When to start CPP: 60, 65 or 70?

Topic: Retirement · Part 7 of 13 · 🔴 Advanced

In one sentence

You can start your CPP retirement pension any time between 60 and 70, and the age you choose changes your monthly payment for the rest of your life.

Words to know

CPP retirement pension: a monthly pension from the Canada Pension Plan, based on what you paid in from your work.
Standard age: 65. Your full, normal amount is based on starting at 65.
Break-even age: the age when the total money from starting later catches up with the total from starting earlier.
Survivor’s pension: a CPP payment to your spouse or common-law partner after you die.

Step 1: Know the rules for early and late starts

The standard age to start CPP is 65. You can start as early as 60 or as late as 70.

Before 65: your payment goes down 0.6% for each month before 65. That is 7.2% a year. At 60, it is 36% less.
After 65: your payment goes up 0.7% for each month after 65. That is 8.4% a year. At 70, it is 42% more.
After 70: there is no benefit to waiting. The amount stops growing at 70.

This change is permanent. If you start at 60, you keep the lower amount for life.

For a sense of size, in 2026 the maximum CPP at 65 is $1,507.65 a month. The average for new pensioners in July 2026 was $858.34. Many immigrants get less, because they had fewer years to pay in. Check your own estimate in your My Service Canada Account. (Figures checked October 2026.)

Step 2: Understand the break-even idea

Starting early gives you more payments, but each is smaller. Starting late gives you fewer payments, but each is bigger. At some age, the late starter’s total catches up. That is the break-even age.

If you live past the break-even age, starting later pays more in total. If you don’t, starting earlier pays more. Nobody knows how long they will live, so this is a guide, not an answer.

Step 3: Think about your health and other income

Canada.ca suggests you decide based on your health, your money situation and your plans. Some common situations:

Starting earlier may fit if you need money now, have little other income, want to work less, or have health problems that may shorten your life.
Starting later may fit if you are healthy, expect to live a long time, and have other money to live on until then, like work, savings or a workplace pension.
Taxes: CPP is taxable income. If you are still working at 60, your CPP adds to your income and may be taxed at a higher rate.
Longevity risk: a bigger CPP for life can protect you if you live into your 90s and your savings run low.

Step 4: Think about your spouse or partner

If you die first, your spouse or common-law partner may get a CPP survivor’s pension. It is based on your CPP.

There is a limit when someone gets both their own CPP and a survivor’s pension. In 2026, the maximum combined amount at 65 is $1,531.56 a month. So a survivor who already has a large CPP of their own may get little extra.

Couples often look at both pensions together. Talk to Service Canada or a licensed financial planner about your exact case.

Step 5: Apply ahead of time

CPP does not start by itself. You must apply.
You can apply up to 12 months before the date you want it to start. Apply early so payments start on time.
Apply online through your My Service Canada Account. Service Canada expects to mail a decision within 28 days.
Or apply by paper with form ISP-1000. A decision can take up to 120 days.
If you lived or worked outside Canada, you must apply on paper. See Counting pension years from your home country.

Example

Imagine your CPP at 65 would be $1,000 a month. This is a round number for the example. It ignores taxes and yearly cost-of-living increases.

Start at 60: $1,000 − 36% = $640 a month.
Start at 65: $1,000 a month.
Start at 70: $1,000 + 42% = $1,420 a month.

60 or 65? By 65, the early starter has received 60 months × $640 = $38,400. From then on, the 65 starter gets $1,000 − $640 = $360 more each month. $38,400 ÷ $360 = about 107 months, or almost 9 years. The break-even age is about 74.

65 or 70? By 70, the 65 starter has received 60 months × $1,000 = $60,000. From then on, the 70 starter gets $1,420 − $1,000 = $420 more each month. $60,000 ÷ $420 = about 143 months, or almost 12 years. The break-even age is about 82.

So in this example, waiting until 70 pays more in total only if you live past about 82. Real results change with taxes, inflation and investment returns.

Common mistakes

Starting at 60 just because you can, without comparing the options.
Forgetting that the reduction or increase lasts for life.
Forgetting about a spouse who may need a survivor’s pension.
Applying too late, so payments start later than you planned.

✅ My checklist

☐ I checked my CPP estimate in My Service Canada Account.
☐ I compared my monthly amount at 60, 65 and 70.
☐ I thought about my health, other income and my spouse or partner.
☐ I worked out a rough break-even age.
☐ I put a reminder to apply up to 12 months before my start date.

Next in this topic → Applying for OAS and GIS

Back to the topic → Retirement

There are no affiliate or referral links in this post. This is general information, not financial, tax or legal advice; everyone’s situation is different. Figures were checked in October 2026 and can change.

Sources: CPP retirement pension: when to start · CPP retirement pension: how to apply · CPP: pensions and benefits monthly amounts