What each start age does to your pension
The CPP lowers your pension 0.6% for each month before 65 (up to 36% at 60) and raises it 0.7% for each month after 65 (up to 42% at 70). The table applies this to the maximum and the average pension.
| Age | Adjustment | Maximum pension | Average pension |
|---|---|---|---|
| 60 | −36% | $964.90 | $549.34 |
| 62 | −21.6% | $1,182.00 | $672.94 |
| 63 | −14.4% | $1,290.55 | $734.74 |
| 64 | −7.2% | $1,399.10 | $796.54 |
| 65 | None | $1,507.65 | $858.34 |
| 66 | +8.4% | $1,634.29 | $930.44 |
| 67 | +16.8% | $1,760.94 | $1,002.54 |
| 68 | +25.2% | $1,887.58 | $1,074.64 |
| 70 | +42% | $2,140.86 | $1,218.84 |
Maximum: $1,507.65 at 65 for a pension starting January 2026. Average: $858.34 at 65 (July 2026). Other ages apply the official rule.
How the comparison is worked out
before 65: −0.6% × months early
after 65: +0.7% × months lateAge 62: 36 × 0.6% = 21.6% less. Age 67: 24 × 0.7% = 16.8% more.monthly amount × months since you started$1,000 at 65 from age 65 to 66: 12 × $1,000 = $12,000first month when the later start
has received at least as much in total$640 from 60 versus $1,000 from 65: age 73 years 11 months- Break-even ages are a guide, not a forecast. If you live past the break-even age, the later start gives more in total.
- The amount you enter at 65 is the base. The CPP works out your own pension from your earnings record, so your statement amount matters more than the average.
- The adjustments are fixed by month of age; starting in the middle of a year uses the monthly steps.
Frequently asked questions
When can I start the CPP retirement pension?
From age 60 to 70. The standard age is 65. There is no benefit in waiting after 70.
How much does starting at 60 reduce my pension?
By 0.6% for each month before 65, so by 36% at age 60 (7.2% per year).
How much more do I get by waiting until 70?
The pension increases 0.7% for each month after 65, so by 42% at age 70 (8.4% per year).
What is the break-even age?
It is the age at which the total you would have collected by starting later catches up with the total from starting earlier. About 74 for 60 versus 65, and about 82 for 65 versus 70.
Does working while collecting CPP change this?
If you work and keep contributing before 70, you earn a post-retirement benefit that adds to your pension. This tool does not include it.
Where do I find my pension amount at 65?
Sign in to My Service Canada Account for your statement of contributions and pension estimate, or use the Canadian Retirement Income Calculator.
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How we check
Automated tests check the adjustment factors against the rule stated by Service Canada (−0.6% per month to −36% at 60, +0.7% per month to +42% at 70) and the arithmetic of the break-even month, including that the total at that month is at least equal and one month earlier is not.
The maximum pension figures at 60 ($964.90) and 70 ($2,140.86) apply those factors to the official $1,507.65 and round to the nearest cent. They match figures published by third-party sites, but we did not find a canada.ca page that lists them.
Limits: nothing here is compared with Service Canada’s own estimator. CPP rounding rules and the monthly enhancement of new pensions are not modelled. The totals ignore indexing, investment returns, taxes and OAS clawback effects.