CPP and OAS timing
Taking CPP before 65 costs 0.6% a month permanently; deferring past 65 adds 0.7% a month. The decision is irreversible after a year, so it is worth knowing where the cumulative lines actually cross.
- 0.6% / 0.7% per month
- Cumulative payout crossover
- Combined with OAS
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Cumulative CPP by start age
- Start at 60
- Start at 65
- Start at 70
| Age 65 overtakes age 60Before this age, starting early is ahead in total dollars | Age 75 |
|---|---|
| Age 70 overtakes age 65After this age, deferral keeps widening the gap | Age 84 |
Monthly amount by start age
Total received by your planning age
| Starting at 60$917 a month | $426,926 |
|---|---|
| Starting at 65$1,433 a month | $523,134 |
| Starting at 70$2,035 a month | $557,728 |
CPP is reduced 0.6% for each month before 65 — 36% at age 60 — and increased 0.7% for each month after, to 42% at 70. OAS increases 0.6% a month if deferred, to 36% at 70.
Cumulative figures index payments at 2% a year in nominal mode, approximating consumer-price indexation. In today’s-dollars mode there is no indexation, which slightly favours earlier start ages.
The clawback test applies 15.0% to net world income above $95,300. CPP counts toward that income; a TFSA withdrawal does not.
These results are illustrative estimates based on published 2026 rates and typical lender rules. They are not financial, tax, or legal advice, and they are not a mortgage or credit approval. See the methodology and disclaimer.
How much pension the recovery tax takes, and how to smooth income.
Mandatory minimums from 71 onward, and how long the portfolio lasts.
Contribution room since 2009, wrapper comparison, and the FHSA deduction.
What the management expense ratio actually costs you over thirty years.