When should I start CPP: at 60, 65 or 70?

How does my start date change my CPP?

You choose when to start your CPP retirement pension. The start date changes the monthly amount for life.

You can usually start it earlier for a smaller cheque, or later for a larger one. The larger cheque lasts for the rest of your life.

For pensions starting in 2026, the maximum CPP retirement pension at 65 is $1,507.65 a month. CPP rises once a year, each January. It is taxable income.

You can compare start dates with our free calculator at /tools/#tx-calc, on the CPP timing tab.

What should I weigh before I choose?

The right answer depends on your own situation. Weigh these three things together:

• Your health.
• How long your family tends to live.
• Your other income, and when each source can begin.

What is the most common mistake?

Many people start their CPP at the earliest possible moment simply because they can. They never weigh whether waiting for a larger lifelong cheque would serve them better.

Timing CPP is one of the few decisions that can meaningfully raise your guaranteed, inflation-protected income for life. Make it deliberately, not by default.

You do not need a perfect forecast. No one knows how long they will live or what the rules will be in twenty years. The aim is to avoid the big, avoidable mistakes.

If I wait, how do I cover the gap?

Picture Linda, retiring at 63, and her husband Tom, 65. Both were in good health and came from long-lived families. They chose to delay CPP for a few years.

To bridge the gap, they drew modestly from their retirement accounts, in even amounts. This also shrank those accounts before the rules would force larger withdrawals later.

The years before OAS and CPP start can be good years to take more than the minimum from a RRSP or RRIF. Every extra dollar counts as income, so ask your tax preparer to run the numbers first.

Can couples share CPP, and do business owners build it?

CPP cannot be split on the tax return with Form T1032, because CPP has its own sharing rules.

Spouses or common-law partners who live together and are both 60 or older can share the CPP earned during their time together. At least one must receive, or have applied for, the CPP retirement pension. You apply to Service Canada, not on the tax return.

If you own a business, a salary from your company builds CPP, just as any paycheque does. Dividends do not.

Related questions

Is CPP taxable?

Yes. CPP retirement and survivor pensions are taxable income.

Can I split my CPP with my spouse on our tax returns?

No. CPP cannot be split with Form T1032 because it has its own sharing rules. Couples who live together and are both 60 or older can apply to Service Canada for CPP pension sharing.

Do dividends from my own company build CPP?

No. A salary from your own company builds the contributory government pension. Dividends do not.

Drawn from TaxOnTax: The 12Event Planning Model, Event 3: The Long Goodbye to a Paycheque; also Legacy Planning in Care, Chapter 2. Income in care, and Chapter 3. Single or a couple: what changes on the return, by Derik Godbout, PBA, CEA, DMA. Reviewed October 2026. General information, not advice for your situation; rules and amounts change, so confirm current figures before you act.

Go deeper: Event 3: Retirement Income & Long-Term Planning

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