CPP at 60, 65 or 70? What changes.

The rules

You can start your Canada Pension Plan any time from 60 to 70. Sixty-five is the standard age; every month away from it changes your cheque, for life.

What it looks like with real numbers

Say your CPP at 65 would be $1,000 a month.

• Start at 60: $640 a month.
• Start at 65: $1,000 a month.
• Start at 70: $1,420 a month.

Starting earlier means smaller cheques, but more of them. So the question is really: how long do you expect to collect?

The break-even ages

Before inflation and tax, starting at 60 stays ahead of starting at 65 only until about age 74. Waiting until 70 comes out ahead of 65 after about age 82. Live past those ages and waiting paid off; don’t, and starting earlier did.

Because CPP rises with inflation every year, a bigger starting cheque also means bigger increases each year after it.

What should actually decide it

Your health, and your family’s

If you have reason to expect a shorter retirement, starting earlier can make sense. If your family tends to live long, waiting often pays.

Other money to bridge the gap

Waiting only works if you can live on something else in the meantime: work, a pension, RRSP or TFSA savings.

Your spouse

If one of you dies, the survivor may receive part of the other’s CPP. The timing decision affects both of you.

Tax and your OAS

CPP is taxable income, and at higher incomes, income can reduce OAS. Timing CPP alongside RRIF withdrawals can change how much you keep.

Whether you’re still working

If you work while collecting CPP, you keep contributing until 65 (and can choose to until 70), and those contributions add a little more to your pension each year.

One more thing about OAS

Old Age Security starts at 65, and you can delay it up to 70 for a bigger cheque. Once you reach 75, OAS is increased by 10%.

General information based on 2026 federal program rules, not personal tax advice. Your CPP estimate is in your My Service Canada Account.