CPP Start-Age Breakeven Calculator
Compare starting your Canada Pension Plan retirement pension at different ages from 60 to 70, and see the age where waiting pays off.
How to use the calculator
- Find your estimated monthly CPP retirement pension at age 65 in your Statement of Contributions in My Service Canada Account. Enter it in today’s dollars.
- Choose two or three start ages between 60 and 70 to compare. Decimals work, so 62.5 means 62 years and 6 months.
- Enter the age you want to plan to. The totals and the chart use it.
- Optionally add an investment return if you would save or invest the early payments. Leave it at 0 to compare plain totals.
- Read the breakeven ages: if you live past the breakeven, the later start pays more in total; if not, the earlier start does.
Cumulative CPP by age
Each line shows the total received (or its value with your investment return) by each age. Where two lines cross is the breakeven age.
How the CPP start-age rules work
You can start your CPP retirement pension any time from age 60 to 70. According to Canada.ca, payments are reduced by 0.6% for each month you start before 65, up to 36% less at 60, and increased by 0.7% for each month you start after 65, up to 42% more at 70. There is no increase for waiting past 70. The change is permanent for life.
| Start age | Change vs age 65 | If $1,000 a month at 65 |
|---|---|---|
| 60 | −36.0% | $640 |
| 61 | −28.8% | $712 |
| 62 | −21.6% | $784 |
| 63 | −14.4% | $856 |
| 64 | −7.2% | $928 |
| 65 | +0.0% | $1,000 |
| 66 | +8.4% | $1,084 |
| 67 | +16.8% | $1,168 |
| 68 | +25.2% | $1,252 |
| 69 | +33.6% | $1,336 |
| 70 | +42.0% | $1,420 |
How the breakeven age is calculated
Starting earlier gives you smaller payments for more years; starting later gives you larger payments for fewer years. The breakeven age is when the later start’s running total catches up with the earlier one. With no investment return, it is the age where monthly amount × years received is equal for both. For example, with $1,000 a month at 65: starting at 60 pays $640 a month, and the totals meet when 640 × (age − 60) = 1,000 × (age − 65), which is at about age 73.9.
| Comparison | Monthly amounts (if $1,000 at 65) | Breakeven age |
|---|---|---|
| Start at 60 vs 65 | $640 vs $1,000 | about 73.9 |
| Start at 65 vs 70 | $1,000 vs $1,420 | about 81.9 |
| Start at 60 vs 70 | $640 vs $1,420 | about 78.2 |
| Start at 62 vs 65 | $784 vs $1,000 | about 75.9 |
| Start at 65 vs 67 | $1,000 vs $1,168 | about 78.9 |
Because both options use the same percentage rules, these breakeven ages are the same whatever your monthly amount. They change only if you add an investment return.
What the investment return setting does
If you would invest early payments rather than spend them, money received sooner has time to grow. Entering a return, after inflation, values each payment as if it were invested at that rate until the age shown. A positive return moves the breakeven later, which favours starting earlier; a lower return favours waiting. Use a cautious figure. Because CPP payments rise with inflation, use a return after inflation, such as 2–3% for a balanced portfolio, rather than a headline figure.
What this calculator leaves out
- Income tax. CPP is taxable income. Starting while still working can mean a higher tax rate on it.
- Old Age Security. OAS has its own start age and rules, and high incomes can have OAS reduced.
- Survivor and death benefits. These depend on your situation and can change the value of waiting for couples.
- Working while receiving CPP. If you keep working and contributing before 70, you can earn a post-retirement benefit that adds to your pension. See Canada.ca: CPP post-retirement benefit.
- Health and life expectancy. Nobody knows their lifespan. Many people weigh the security of a larger pension later in life against having money sooner.
Questions
Is CPP indexed to inflation?
Yes. CPP payments are adjusted each January for increases in the cost of living, which is why this calculator compares amounts in today’s dollars.
Where do I find my age-65 estimate?
Your Statement of Contributions in My Service Canada Account shows estimates at 60, 65 and 70. Use the 65 figure here.
When should I apply?
Canada.ca says you can apply up to 12 months before your chosen start date. See Canada.ca: Apply for the CPP retirement pension.
Does this tell me when to take CPP?
No. It shows the arithmetic of the trade-off. The right choice depends on your health, other income, savings, taxes and family situation. Read our guides to starting at 60, 65 and 70.
Reviewed October 2026 against Canada.ca · How we build our calculators · Report an issue