About CPP Calculator:
Should you take your CPP (Canada Pension Plan) earlier or later than age 65? There are a lot of factors to consider regarding this decision. Always consult a financial professional about issues regarding taxes, retirement income, health, life expectancy etc. that could affect your decision.
CPP Calculator is focussed on educating people about the changes to their monthly CPP benefit rate at different start ages. It is designed to help people compare their payments at different start ages.
CPP Calculator makes it easy to compare different start ages and death ages. It estimates how much money each start age actually translates to over time until your death age. The calculator also shows what age the total amount collected breaks even with age 65 and two different start ages. It is easy to find information about how CPP rates increase by starting later than age 65. It is hard to find information demonstrating how much CPP pays over time till death. CPP Calculator compares and graphs different start ages and death ages.
CPP Calculator can also factor the annual indexing of Canada Pension Plan for inflation. It estimates how inflation indexing will affect your CPP benefit over time until your death.
You can adjust CPP Calculator input values as needed.
CPP Calculator Input Descriptions:
Monthly CPP Base Rate At Age 65:
You can start your CPP at any age between 60 and 70 years old. The amount of your monthly benefit payment is calculated from your monthly base rate amount at age 65. Payments decrease by 0.6% each month (7.2% per year), up to 36% at age 60. Payments increase by 0.7% each month (8.4% per year), up to 42% at age 70. The maximum CPP base rate amount for 2026 is $1507.65. You can get your actual expected base rate amount from the CRA.
Annual Inflation Index:
CPP is indexed for inflation annually.
The CRA targets 1 to 3 percent annually. The CPP Calculator inflation input will accept values up to 2 decimal places from 0.00 to 99.99 percent. Larger inflation values do affect the break even age. It is unlikely that the Service Canada would index CPP for inflation rates that large but you may find it entertaining!
Expected Death Age:
Calculates the total amount collected over time from any start age to the age you stop collecting CPP. Statistically, life expectancy in Canada as of 2025 is 80.05 for men and 84.90 for women.
Compare CPP Start Age One:
Enter a potential age to start collecting CPP between the eligible age range of 60 to 70 years old. CPP Calculator allows you to easily compare your CPP benefit amounts at two different start ages and age 65.
Compare CPP Start Age Two:
Enter a second CPP start age between the eligible age range of 60 to 70 years old. CPP Calculator allows you to easily compare your CPP benefit amounts at two different start ages and age 65.
CPP Calculator Output Descriptions:
Primary Result:
Resulting CPP you will collect from the base rate age of 65 until the death age that you input.
Comparison Result Death Age:
Resulting CPP amounts you will collect from age 65 and each of your two start ages until your death age.
Comparison Result Break Even Age:
Starting CPP earlier than age 65 reduces your monthly payment and waiting later than age 65 increases it. With normal inflation, by a certain age you will collect the same total amount of CPP regardless of start age. This is the break even age. Compare the CPP amounts collected from the two different start ages and age 65 until the break even age. Personal health, family history, statistical life expectancy etc. are factors to consider. Eg: If men live to 80.05 years old and your break even age is 80, you might decide to start CPP earlier.
Cumulative CPP Benefit Comparison Graph:
The Graph shows the differences in the amount of CPP collected over time from each of the start ages. Graphs start ages of 65 (CRA base rate), start age one (60 to 70), start age two (60 to 70). The crossing points on the graph show where the break even ages are between any of these start ages. Move your cursor along any graph line to display the total CPP collected at any age along the graph line.