Starting CPP at 70
General information about the Canada Pension Plan retirement pension, not financial advice. Rules are as published on Canada.ca in October 2026.
Seventy is the latest start age for the CPP retirement pension, and the point where the increase for waiting stops. There is no benefit to delaying past 70.
How much larger?
Payments increase by 0.7% for every month after 65. Waiting the full five years adds 42%, so a $1,000 estimate at 65 becomes $1,420 a month at 70, for life and indexed to inflation each year.
When does waiting pay off?
By delaying from 65 to 70 you give up 60 payments of $1,000, or $60,000. The extra $420 a month takes about 143 months, almost twelve years, to make that up. The breakeven is at about age 81.9 compared with starting at 65, and about 78.2 compared with starting at 60.
Reasons people wait until 70
- They are still working or have other savings and pensions to live on in their sixties.
- They want the largest guaranteed, inflation-protected income for later life, as insurance against living a long time.
- They have a family history of longevity.
- Delaying can make it easier to manage taxes in years with other income.
Things to weigh
- Money spent from savings in your sixties is not available for other uses, so check your budget carefully.
- If you would invest early CPP payments and expect strong returns, the breakeven moves later.
- Health and family circumstances matter more than any average.
Compare 65 and 70, or any ages in between, in the calculator.
Open the CPP breakeven calculator →
Reviewed October 2026 against Canada.ca · How we build our calculators · Report an issue