Investment · Retirement
CPP start age break-even.
You can start the CPP retirement pension anywhere from 60 to 70. See what each start age pays per month and the age at which waiting finally comes out ahead.
Starting CPP before 65 cuts your pension 0.6% per month (7.2% per year, up to 36% at age 60). Starting after 65 raises it 0.7% per month (8.4% per year, up to 42% at age 70). Cumulative payments from a 65 start overtake a 60 start at about age 74; a 70 start overtakes 65 at about age 82.
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How the adjustment works
The standard CPP start age is 65. Each month you start before 65 reduces your pension by 0.6%, to a maximum reduction of 36% at 60. Each month you start after 65 increases it by 0.7%, to a maximum of 42% at 70. There is no benefit to waiting past 70.
How the break-even age is calculated
We add up nominal payments from each start age. If the earlier start pays a per month from month sA and the later start pays b from month sB, the later start is ahead once your age in months N satisfies a×(N − sA) = b×(N − sB). This is our own arithmetic on the published percentages, not a Government of Canada figure. It ignores CPP inflation indexing, income tax, investment returns you could earn on early payments, the post-retirement benefit and how long you actually live.
Sources, read 29 September 2026: canada.ca — "When to start your retirement pension" (rates and 60–70 range, page dated 2026-06-18) and canada.ca — "How much you could receive" (maximum $1,507.65 at 65, January 2026; average $858.34, July 2026), Employment and Social Development Canada / Service Canada.
Frequently asked questions
Is the break-even age the same for everyone?
Yes, as a percentage. The break-even age depends only on the 0.6% and 0.7% monthly rates, not on your dollar amount, so it is the same whether your pension is $600 or $1,500.
Should I start CPP at 60 if I stop working?
That depends on health, other income and needs. Service Canada says to base the choice on your health, financial situation and retirement plans. Starting at 60 gives smaller payments for life.
Does this change my OAS?
No. OAS is a separate program with its own deferral rule (0.6% per month after 65). See the OAS deferral calculator.
Estimate only
This tool applies the published start-age adjustments to a base amount you provide. It is not financial advice and does not model indexing, taxes, the post-retirement benefit or the survivor and disability pensions. Confirm your actual figures with Service Canada.