Rates verified Oct 2026 · Sources: CRA, Service Canada
ExampleCPP $1,433/mo at 65 · OAS $762.50/mo at 65 · Life expectancy 87
Monthly CPP + OAS · CPP age 65 · OAS age 65
CPP at start age
$1,433
0.0% · age 65
OAS at start age
$763
0.0% · age 65
Annual total
$26,352
CPP + OAS combined
Breakeven (65 vs 70)
Age 81
if you deferred CPP to 70 instead
Total CPP + OAS received over your lifetime for three start-age scenarios
| Scenario | Monthly | Annual | Total by age 87 |
|---|---|---|---|
| Early (60/65) | $1,680 | $20,160 | $530,556 |
| Standard (65/65) | $2,196 | $26,352 | $617,952 |
| Deferred (70/70) | $3,072 | $36,864 | $679,776 |
CPP max $1,507.65/mo (Jan 2026) · OAS max $762.50/mo at 65, $838.75/mo at 75 (Oct–Dec 2026) · Source: canada.ca. Check My Service Canada Account for your personal CPP estimate. OAS subject to 15% recovery tax above $93,454 (2025 income). Not financial advice.
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Deciding whether to take CPP at 60, 65, or 70 is one of the most valuable retirement choices you'll make - the difference can be $100,000+ over your lifetime. This calculator compares your cumulative payout at each starting age using your actual projected CPP amount (not the maximum) and shows the breakeven age so you can decide based on your health and longevity expectations.
CPP is reduced 0.6% per month (7.2%/year) for each month taken before 65, and increased 0.7% per month (8.4%/year) for each month deferred after 65, up to age 70. OAS is increased 0.6% per month (7.2%/year) for deferral to age 70. The calculator projects annual payments with 2% inflation indexing and finds the age where cumulative deferred payments exceed cumulative early payments.
2026 maximum CPP at 65: $1,507.65/month ($18,091.80/year) for someone who contributed at the maximum for 39+ years - most retirees get less. Maximum OAS at 65: $762.50/month (Oct-Dec 2026). If you expect to live well past your mid-70s and don't need the money at 65, deferring both is usually the right call.
CPP is reduced 0.6% per month (7.2%/year) for each month before 65, and increased 0.7% per month (8.4%/year) for each month after 65, up to age 70. Taking CPP at 70 pays 42% more than at 65. The breakeven versus age-65 is roughly age 74 for age-60 vs 65, and age 83 for age-65 vs 70. Those in good health with a long family history often benefit from deferring.
OAS begins automatically at age 65 but can be deferred up to age 70 for a 7.2% boost per year (36% more at 70). The clawback threshold is based on net income for the prior tax year: $93,454 for 2025 income (affecting Jul 2026-Jun 2027 payments) and an estimated $95,323 for 2026 income. OAS is clawed back 15 cents per dollar above that threshold. High earners may benefit from deferring OAS while drawing down RRSP/RRIF first.
The maximum CPP retirement pension at age 65 for someone who contributed at the maximum for 39+ years is $1,507.65/month in 2026. The average CPP for new retirees is closer to $750-$850/month, since most people don't have a full maximum contribution history. CPP2 contributions since 2024 will add a small supplemental benefit over time.
Long-form explainers that pair with this calculator.