CPP Retirement Pension Calculator 2026
Your estimated monthly CPP at 60, 65 or 70 from average earnings and contributory years (or your Service Canada estimate), the lifetime total at each start age, break-even ages for deferring and the combined amount with OAS.
| Estimated pension at 65 | — |
|---|---|
| Share of the maximum | — |
| Adjustment for starting at your age | — |
| Pension at 60 / 65 / 70 | — |
| Lifetime total to your planning age | — |
| Break-even age: 65 vs 60 | — |
| Break-even age: 70 vs 65 | — |
| Annual amount (taxable) | — |
| Combined with OAS | — |
In short
The maximum CPP retirement pension is $1,507.65 a month at 65 in 2026 (about $858 on average), permanently reduced by 0.6% for each month taken before 65 — 36% at 60 — and increased 0.7% for each month after, to 42% at 70; someone averaging $65,000 with 35 contributory years gets about $1,180 at 65, and waiting from 60 to 65 pays off for anyone living past roughly 74–75.
Who this is for: Canadians aged 55–70 deciding when to start CPP, and anyone estimating retirement income before checking their Service Canada statement.
How much CPP will you get, and when should you take it?
The Canada Pension Plan retirement pension replaces about a quarter of average lifetime earnings up to the year's maximum pensionable earnings ($74,600 in 2026) — rising to a third for people who contribute fully under the 2019 enhancement. The maximum at 65 is $1,507.65 a month in 2026, but because few people earn the maximum for 39+ years the average new pension is about $858. Your lowest 17% of contributory months (up to eight years) are dropped, as are years raising children under seven.
- Start age: you can begin anywhere from 60 to 70. Every month before 65 cuts the pension by 0.6% (36% at 60); every month after adds 0.7% (42% at 70) — for life, and indexed.
- Break-even: taking CPP at 65 rather than 60 pays off if you live past roughly 74; waiting to 70 pays off past roughly 81–85 depending on the return you assume — most Canadians reaching 65 do, which is why many planners favour deferral for those who can afford it.
- Taxable and testable: CPP is taxable income and counts toward the OAS clawback; it is not reduced by other income.
- Working while collecting: contributions continue to 65 (optional 65–70) and buy small post-retirement benefits.
- Survivor and disability: the plan also pays survivor pensions (up to 60% of the contributor's pension, combined with your own up to the maximum), a $2,500 death benefit and disability pensions.
See also: RRIF Minimum Withdrawal Calculator, Canada Income Tax Calculator 2026 — All Provinces.
Assumptions
- At-65 estimate = $1,507.65 × min(1, average earnings ÷ YMPE) × min(1, contributory months ÷ (47 years × 12 − child-rearing months) × 83%); or the Service Canada figure if entered.
- Start-age factor = 1 − 0.6% × months before 65 or 1 + 0.7% × months after; lifetime totals discount each month's payment at the real return entered from age 60.
- Break-even = first age at which the cumulative discounted total of the later start exceeds the earlier one.
Worked example
Earnings ratio 65,000 ÷ 74,600 = 87%; 35 years covers 90% of the post-drop-out contributory period → about $1,179 a month at 65 (78% of the maximum). At 60 it would be $924; at 70 $1,674. Lifetime total to 88 (discounted at 2% real): about $237,500 starting at 65 versus $195,100 at 60 and $250,600 at 70. With that discount rate the break-even for waiting from 60 to 65 is about age 75; from 65 to 70 about age 84–85 (lower with a 0% discount rate).
Frequently asked questions
What is the maximum CPP payment in 2026?
$1,507.65 a month for a pension starting at 65 in 2026 ($964.90 at 60, $2,140.86 at 70); the average new pension is about $858 because most people have years of low or no contributions.
Should I take CPP at 60 or 65?
Taking it at 60 cuts the pension by 36% for life; you come out ahead only if you die before roughly 74–75. Take it early if you need the income, have poor health or want to spend more while active; defer if you have other income and expect a long life.
How is CPP calculated?
From your pensionable earnings in each year from 18 to the start of the pension, each divided by that year's YMPE, with the lowest 17% of months and child-rearing years dropped; the average is multiplied by 25% (33% for enhanced contributions) of the current YMPE.
Is CPP taxable?
Yes — it is taxable income (with no tax withheld unless you ask) and counts toward the OAS recovery tax; it can be split with a spouse through pension sharing.
Can I get CPP and OAS together?
Yes — OAS starts at 65 (deferrable to 70) regardless of CPP, so a full-career earner at 65 receives about $1,500 CPP + $742 OAS a month before tax.
Does working after 65 increase CPP?
Yes if you keep contributing (mandatory to 65, optional to 70): each year adds a post-retirement benefit of up to about 1/40 of the maximum, paid from the following year.
Can I collect CPP while still working?
Yes from 60 — contributions continue to 65 (optional to 70) and buy post-retirement benefits; the pension itself is not reduced by employment income.
How do I get my CPP statement of contributions?
Log in to My Service Canada Account — it shows every year of pensionable earnings and an estimate of your pension at 60, 65 and 70.
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