Calculators > CPP Retirement Pension Calculator

CPP Retirement Pension Calculator

This calculator will show you how much Canada Pension Plan (CPP) retirement pension you will collect, depending on the age at which you decide to start collecting.

You will need your estimated CPP retirement pension at age 65, from a current CPP statement of contributions, in order to use the calculator.  If you have not received a statement of contributions, you can get one online from Service Canada Statement of Contributions.

The calculator compares the CPP retirement pension starting at 3 different ages, which you can choose.  For instance, if you turn 60 in 2012 and want to start collecting your CPP in 2012, you would enter the year 2012 and age 60.  You can then choose 2 other ages in the next 2 columns, in order to provide a comparison.

The calculator also calculates the present value (PV) of the pension to be received up to a certain age, based on an estimated rate of return.  The PV is the amount that would have to be invested at the earliest time in the table of results, in order to provide the future cashflows shown in the results.

See our article on the new rules in effect for the CPP retirement pension.

The table of current monthly average and maximum rates can be found on the Service Canada website.

 If your earnings are changing significantly before you start collecting your CPP pension, try  the Service Canada Canadian Retirement Income Calculator.

Tax Tip:  You don't know how long you will live, so we still recommend taking your CPP retirement pension at age 60.

Check out our other calculators.

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