CPP Payout Calculator
Estimate how much money you will receive from the Canada Pension Plan (CPP) every month when you retire. Compare payouts for taking it early at 60 vs delaying until 70.
Last updated: May 2026
You can take CPP anytime between 60 and 70.
Estimate your average career earnings (in today's dollars).
Estimated CPP Payout at Age 65
per month
Annual Payout
$13,208
Your Calculation Breakdown
- Age 65 Modifier:0%
- % of Max CPP Eligible:81%
*This is an estimate. The exact amount depends on your specific historical contributions to the CRA. Most Canadians receive less than the maximum amount.
Reviewed by Sneha Iyer, CFP
•Certified Financial PlannerSpecializing in wealth management and retirement planning. Sneha validates the investment projection models and compound interest algorithms used across our financial tools. All mathematical models and regulatory data points have been verified for the current 2026 fiscal period.
How much CPP will I get?
Many Canadians assume they will get the "Maximum CPP Amount" when they retire (around $1,364/month at age 65). In reality, the average Canadian only receives about $750 per month.
To get the maximum payout, you must contribute the maximum amount to the CPP for at least 39 years between the ages of 18 and 65. Most people fall short due to years spent studying, working part-time, or taking time off to raise children.
How to use this calculator
- 1Average Salary — Estimate your average career salary in today's dollars. The calculator limits this at the YMPE (Yearly Maximum Pensionable Earnings, ~$68,500) since earnings above this do not increase your CPP.
- 2Choose Retirement Age — Slide the age from 60 to 70 to see the dramatic difference taking it early or late makes to your monthly payout.
- 3Review Estimate — See your estimated monthly and annual payouts to help plan your overall retirement budget alongside OAS and your RRSP.
Formula & example
The Age Penalty and Bonus System
Example: Your calculated base CPP at age 65 is $1,000/month.
- Take at 60: $640/month (-36%)
- Take at 65: $1,000/month (100%)
- Take at 70: $1,420/month (+42%)
Benefits
Inflation Protected
CPP payouts are indexed to inflation, meaning they increase every January to keep up with the cost of living.
Guaranteed for Life
Unlike your RRSP which can run out of money, CPP pays out every month until you pass away.
Survivor Benefits
A portion of your CPP can be passed on to your surviving spouse.
Use cases
Breakeven Analysis
Figuring out if it's better to take less money at 60 (but get it for 5 extra years) or wait until 65.
RRSP Meltdown Strategy
Retiring at 60, living off RRSP savings entirely until age 70, then taking maximum CPP/OAS to ensure guaranteed income late in life.
Frequently asked questions
Is this amount taxed?+
Yes, CPP payments are considered taxable income. If your total income (including OAS, RRSP withdrawals, and CPP) is high, you will pay income tax on it.
How do I find my exact CRA number?+
While this calculator gives a very strong estimate, you can log into your 'My Service Canada Account' to see your official personalized Statement of Contributions and exact CPP estimate.
What is the Child Rearing Provision?+
If you had low earnings because you were the primary caregiver for a child under 7, the CRA can drop those low-earning years from your calculation, boosting your average and your final payout.