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When Should You Take CPP?
The answer depends on your health, other income, and one key calculation: the break-even age.
Updated June 2026 · 6 min read · Source: Service Canada
The Three Start Ages — What Each Means
You can start CPP any time between age 60 and 70. The standard age is 65, but starting early or late permanently changes your monthly amount.
Age 60
−36% permanently
0.6% reduction per month before 65. Maximum ~$874/mo in 2026. Best if health is poor or you need income now.
Age 65
Standard amount
No adjustment. Maximum $1,364.60/mo in 2025. The default — right for many Canadians.
Age 70
＋42% permanently
0.7% increase per month after 65. Maximum ~$1,937/mo in 2026. Best if healthy with long life expectancy.
The Break-Even Calculation
The break-even age is where the total lifetime payments from two start dates cross over — meaning one choice becomes better than the other only past that age.
Age 60 vs Age 65
Taking CPP at 60 gives you 5 more years of payments, but at 36% less per month. The extra payments run out around age 73–74. After that, the person who waited until 65 has collected more total money.
Age 65 vs Age 70
Waiting until 70 earns 42% more per month but means 5 fewer years of payments. The extra per-month amount catches up at roughly age 82–83. If you expect to live past 83, waiting pays off.
Factors That Should Drive Your Decision
1
Your health and family history
If parents and grandparents lived into their 80s and you're in good health, waiting longer makes mathematical sense. If you have serious health conditions, taking it early secures more guaranteed payments.
2
Other income sources
If you have a DB pension, rental income, or RRSP/RRIF withdrawals planned, you may not need CPP early. If CPP is your primary income, starting at 65 or earlier provides certainty.
3
Spousal situation
The higher-earning spouse should consider deferring CPP to 70 — this maximizes the survivor benefit paid to the other spouse. Pension income splitting also becomes available at 65.
4
Investment alternative
Some advisors suggest taking CPP early and investing the difference. This strategy works if you can earn more on investments than the 8.4%/year implicit return of deferring CPP from 65 to 70 — difficult to beat reliably.
5
OAS clawback
If your total income will exceed $90,997 (2025 threshold), OAS is clawed back at 15 cents per dollar. High-income retirees sometimes take CPP early to manage income in later years.
🍁 Run Your CPP Numbers
See your exact monthly amount at every age from 60 to 70, the break-even points, and total lifetime income comparison — all in one free calculator.
Open CPP Calculator →
Frequently Asked Questions
What is the break-even age for CPP at 60 vs 65?Approximately age 73–74. If you live past that, waiting until 65 pays more total over your lifetime.
What is the break-even age for CPP at 65 vs 70?Approximately age 82–83. If you expect to live past 83, waiting until 70 for the 42% boost pays off.
How much is CPP reduced at age 60?36% permanently (0.6% per month × 60 months early). The 2025 maximum at 65 was $1,364.60 — at 60 that's approximately $874/month.
Does taking CPP early affect OAS?No — CPP and OAS are separate programs. Your CPP start age does not affect OAS eligibility or amount.