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Program · Federal

Canada Pension Plan (CPP)

Earnings-based federal retirement pension. You can start as early as 60 or as late as 70; each year of delay past 65 adds 8.4%, each year earlier than 65 reduces by 7.2%.

Reviewed by Ben Stevenson, Managing Editor, Canadian Money Help Updated April 20, 2026 Verified April 21, 2026 Methodology

Eligibility

  • Contributed to CPP for at least one year
  • 60 or older to start benefits
  • QPP (Quebec Pension Plan) is the Quebec equivalent with similar mechanics

Limits and rules

  • 2026 maximum monthly benefit at 65: ~$1,433 (verify current year)
  • Average benefit is roughly 60% of maximum
  • Maximum at 70 is ~42% higher than at 65; at 60 is ~36% lower

Source

Service Canada: CPP →

Related calculators

Cpp Timing