What changes if I start CPP at 70 instead of 65?
CPP retirement payments can start between 60 and 70. Starting after 65 raises each payment. Starting later also means more years without that income. This made-up Ontario example starts CPP at 65 or at 70. Retirement and OAS stay at 65 in both versions.
Open this made-up exampleRead this example or use the basic calculator without an account. Review and confirm the inputs and assumptions before calculating. Nothing runs on its own. Saved plans and advanced tools have their own access.
A later start means bigger payments, received for fewer years.
Canada.ca says the usual CPP start age is 65. Each month you start after 65 raises the payment by 0.7%, up to 42% more at age 70. Each month before 65 lowers it by 0.6%. The right age depends on your own situation.
Your CPP amount depends on your contributions, your earnings and your start age. My Service Canada Account shows your record and an estimate. If you work while receiving CPP, new contributions can change your actual benefit.
This comparison holds the entered CPP-at-65 estimate and OAS residence years fixed and changes only the CPP start age. It does not rebuild your contribution history, add years, or pick the best age for you. The example uses Ontario and CPP; Quebec has QPP rules.
One change. Two projections.
This made-up person lives in Ontario. These inputs show how the tool works. They are not a prediction for you. All amounts are in CAD.
Retirement age: 65 in both versions. Yearly household spending after tax: $60,000 in both versions, in 2026 dollars, excluding contributions. CPP 65 in the baseline; 70 in the alternative. OAS 65 in both versions.
Alex
Alex, born 1966-06-15, earns $90,000 a year before retirement.
- Starting savings
- RRSP $550,000; RRIF $0; TFSA $100,000; non-registered $50,000 with cost basis $40,000; cash $10,000.
- CPP and OAS
- CPP $12,000 a year at 65, starting at 65 in the baseline and 70 in the alternative. OAS starts at 65 in both versions, using 40 residence years.
- Assumptions in both versions
- 2.1% inflation · 5% annual return
Fixed return, no simulated market path
| Measure | CPP at 65 | CPP at70 |
|---|---|---|
| First projected shortfall | 2055 | 2055 |
| End-of-plan position after tax In 2026 dollars | -$251,001 | -$217,767 |
| Projection ends | 2061 | 2061 |
Benefit-age comparison holds each person's CPP/QPP amount at 65 and OAS residence years fixed. Extra contribution history and additional residence years are not inferred. This compares only the supplied start ages. It is not a search for a better start age. This made-up example compares CPP at 65 with CPP at 70. Retirement stays at 65. OAS stays at 65. A later calculation uses the engine and rules available at that time. Review your statement assumptions.
Both versions have a projected shortfall under these assumptions. The comparison shows when it begins. A negative end-of-plan position is a gap, not money left for family. Income tax and benefit exclusions matter; review them before changing spending.
Assumptions and calculation evidence
A first projection for one or two Canadian adults: employment, a defined-benefit pension, CPP/QPP, OAS, RRSP/RRIF, TFSA, non-registered investments and cash. No corporations, property, debts, children, benefit-entitlement history, LIRA/LIF or planned extra contributions. GIS, Allowance and refundable benefit payments (including Ontario GAINS and Trillium) are not included; missing benefits can make a projected shortfall look larger. Review eligibility and payment history before changing spending. Quebec employment requires explicit confirmation of Quebec payroll contributions; cross-province employment is outside this first-calculation scope. Excluded situations need additional facts and supported-case review. One optional alternative can change retirement ages, household spending, or explicit CPP/QPP and OAS start ages. A benefit-age comparison holds the CPP/QPP amount at 65 and OAS residence years fixed; extra contribution history and additional residence years are not inferred. It is a fixed-input comparison, not a broader search for a better start age.
Inflation 2.1%; invested return 5.0% nominal each year; uninvested cash 2%. These are assumptions, not forecasts. Invested accounts use 40% fixed income and 60% equity for tax treatment. Pension splitting and the standard withdrawal/contribution order are enabled. No extra contributions were supplied; surplus uses that order and the stated contribution room.
Alex: OAS uses 40 years of residence; opening TFSA room 0 CAD and RRSP room 0 CAD.
Benefit-age comparison holds each person's CPP/QPP amount at 65 and OAS residence years fixed. Extra contribution history and additional residence years are not inferred. This compares only the supplied start ages. It is not a search for a better start age.
- Engine version
- a5245196fe9c440cac227184b300f58f54e073958c8bd49c259815cd391dec13
- Tax-rate fingerprint
- cf34ad9e08777f2c1f6b0429a2842c2db35669bccffda07886ee8a3081fc868f
- Calculation input fingerprint
- 9e3dd565a768a9f48253e9c385171d3aeca4414f2bf21d1e0c67790db21a1686
These results were generated from this guide’s synthetic inputs using the Glacier engine. Opening the example does not run a calculation. Reviewing and calculating it again uses the available engine and rules at that time.
Download the made-up inputs ↗Keep the question simple.
Keep the starting point the same.
Use the same income, savings, spending, retirement age and OAS details in both versions.
Change only the CPP start age.
Compare CPP at 65 with CPP at 70. Retirement and OAS stay at 65. See how savings cover the years before CPP starts at 70.
Read every year.
Check spending coverage, any shortfall years and the end-of-plan position after tax. Open the annual detail before drawing a conclusion.
Have these facts ready.
- Birth date and province or territory
- Retirement age and employment income
- Your CPP estimate at 65, from My Service Canada Account
- The two CPP start ages to compare
- OAS start age and residence years
- Savings by account type and owner
- Annual after-tax spending, return and inflation assumptions
Know the limits.
- This first calculation excludes property, debts, corporations, children, LIRA/LIF and planned extra contributions.
- GIS, Allowance and refundable benefit payments are excluded. Missing benefits can make a projected shortfall look larger.
- Returns and inflation are assumptions. A projection is not a promise or a personal recommendation.
- The CPP-at-65 estimate is held as entered. The tool does not rebuild contribution history or add contribution years.
- It compares the start ages you choose. It does not search for or recommend a claiming age.
- This example uses Ontario and CPP. For Quebec, read the QPP rules.
Bring the question
to your numbers.
Start with the made-up example. Replace the inputs with your own only when you are ready, then review the scope and assumptions before calculating.
Open this made-up exampleThe software does not include personal advice. Opening a guide or copying instructions does not send your financial details or enrol you in marketing.
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Projections and education, not personalized investment advice. This made-up example is not a plan for you.