Note: effective in 2011, changes in CPP may affect the results shown.
The CPP ensures a basic income for retired workers. If you’ve paid into CPP, you’re
entitled to receive a monthly pension payment as early as age 60 or as late as age
CPP is based on how much, and for how long, you contributed to the plan and the
age you choose to start your payments. As of January 2011, the maximum CPP payment
is $960.00 per month.
If you choose to start your payments earlier than age 65, your monthly CPP payment
will be reduced by a percentage per month determined and published by the Government
If you choose to delay retirement, your monthly CPP payment will be increased by
a percentage per month determined and published by the Government of Canada.
These values will be changing over the next several years. Please click here for more
This calculator assumes that you start receiving your benefits at age 65 or at the
age you retire, whichever is later.
The Old Age Security pension is a monthly benefit available, if applied for, to
most Canadians 65 or over who have lived in Canada for at least 10 years after reaching
If your net income exceeds certain thresholds, you must repay part, or all, of the
maximum pension amount. The repayment amounts are normally deducted from the monthly
payments before they are issued.
The percentage of your annual income you will save for your retirement goals.
You may need to take into consideration certain factors such as unused contribution
room, annual RRSP contribution limits, pension adjustments, and other items that
impact the amount of income that can be invested in tax sheltered retirement savings
on an annual basis.
Important: This calculator assumes your savings are in tax-sheltered accounts (e.g.
RRSP, TFSA, etc.)
Important: Effective 2011, changes in CPP may affect calculation results. For further