CPP payment amount 2026: maximum, average and when to start
Nobody gets a CPP statement that says "the average is $858, enjoy". Your own number depends on how long you contributed, how much you earned and the month you decide to start. The age you pick changes the payment for the rest of your life. Here are the official 2026 figures, the adjustment percentages for starting between 60 and 70, how to apply, and a worked example that shows when waiting pays off in cumulative dollars and when it does not.
On this page
2026 maximum and average amounts
Service Canada publishes these figures for the CPP retirement pension at age 65:
| Measure | Monthly amount | As of |
|---|---|---|
| Maximum retirement pension at 65 | $1,507.65 | Benefits beginning January 2026 |
| Average retirement pension at 65 | $858.34 | July 2026 |
| Maximum post-retirement benefit at 65 | $54.69 | 2026 |
| Average post-retirement benefit at 65 | $26.25 | July 2026 |
Two notes. Service Canada says the maximum amounts increase every month because of the CPP enhancement, so the maximum shown is for people whose pension begins in January 2026. And the amounts are not guaranteed: your actual pension may differ based on your contribution history and when payments start. Most people receive less than the maximum, because the maximum requires contributing the maximum for nearly the whole contributory period.
The post-retirement benefit is an extra small amount you earn if you keep working and contributing to CPP while collecting your pension.
What decides your amount
Service Canada lists these factors:
- The age you start receiving the pension.
- How much and for how long you contributed to CPP.
- Your average lifetime earnings.
Other things can change the number: working while receiving the pension, separation or divorce (credit splitting), low-earning years, child-rearing periods, disability periods and pension sharing with a spouse or common-law partner. CPP contributions are shared equally by you and your employer, with a base rate of 9.9% and an enhanced component based on 11.9%. You can see your own estimate and contribution statement in My Service Canada Account, which is the figure to plan with, not the national average. Your pay-stub deductions are explained in our first paycheque guide.
Starting at 60, 65 or 70
The standard age is 65. Service Canada's rules for starting earlier or later:
| Start age | Adjustment | Share of your age-65 amount |
|---|---|---|
| 60 | -0.6% per month before 65 (7.2% per year), maximum reduction 36% | 64% |
| 65 | None | 100% |
| 70 | +0.7% per month after 65 (8.4% per year), maximum increase 42% | 142% |
Service Canada states there is no benefit to waiting after 70. The adjustments are permanent: choosing 60 gives you a smaller cheque every month for life, while choosing 70 gives you a larger one. You can start in any month between 60 and 70, so the percentage for, say, 63 and 6 months is 0.6% times 18 months, a 10.8% reduction (89.2% of the age-65 amount).
Illustrating with the 2026 numbers (this is our arithmetic, not an official amount, because the official 60 and 70 maximums depend on your own record):
| If your age-65 amount equals | At 60 (64%) | At 65 | At 70 (142%) |
|---|---|---|---|
| The average, $858.34 | $549.34 | $858.34 | $1,218.84 |
| The maximum, $1,507.65 | $964.90 | $1,507.65 | $2,140.86 |
Worked example and break-even
Priya is deciding between starting CPP at 60, 65 or 70. Her My Service Canada Account estimate says her pension at 65 would be about $1,000 a month. This is the same example type Service Canada uses.
| Start age | Arithmetic | Monthly pension |
|---|---|---|
| 60 | $1,000 x 64% | $640 |
| 65 | $1,000 x 100% | $1,000 |
| 70 | $1,000 x 142% | $1,420 |
60 versus 65. By her 65th birthday, the age-60 starter has received $640 x 60 months = $38,400. From then on the age-65 starter is ahead by $360 a month, so the gap closes after $38,400 / $360 = about 107 months, roughly 8.9 years. The age-65 start pulls ahead in total dollars at about age 74.
65 versus 70. By 70, the age-65 starter has received $1,000 x 60 months = $60,000. The age-70 starter then receives $420 more each month, so it takes $60,000 / $420 = about 143 months, roughly 11.9 years, to catch up. The break-even is around age 82.
These are simple break-evens: they ignore taxes, inflation adjustments, what you could earn investing the earlier payments, and the possibility that your own situation changes. They show the shape of the trade. Starting early wins if you do not live past the break-even age or if you need the money, while delaying acts like longevity insurance: a higher monthly amount for as long as you live. It is a personal decision, not a rule.
How to apply
- When: you can apply up to 12 months before your chosen start date. Service Canada recommends applying early so your pension starts on that date.
- Online (recommended): sign in to or register for My Service Canada Account, open the Canada Pension Plan section, choose the retirement pension application and follow the steps. A decision comes by mail within about 28 days of receipt.
- By paper: complete the Application for a Canada Pension Plan Retirement Pension (ISP-1000) and mail it. Expect a decision within about 120 days.
- What you need: your Social Insurance Number and direct deposit details (institution, transit and account number), plus country, insurance number and dates if you lived or worked in another country.
If you apply after 65, you can ask for a retroactive start date up to 11 months before the month your application was received, but no earlier than the month after your 65th birthday. If you apply on or before the month of your 65th birthday, there is no retroactivity. Pension income is taxable, so it adds to your income and sits on your return alongside other sources, as set out in our 2026 tax brackets guide.
Things to weigh
- Your other income. Registered savings, work and benefits all interact. Learn the basics in our RRSP explainer, and see RRSP withdrawal tax before drawing down an RRSP to bridge the years before CPP.
- Income-tested benefits. Higher retirement income can reduce income-tested benefits such as the Guaranteed Income Supplement, so look at your whole picture.
- Tax-free buckets. A TFSA withdrawal does not add to taxable income, which can help manage the tax on CPP.
- Cash flow. If you retire before CPP starts, an emergency fund and a clear budget reduce the pressure to start early.
- Disability. If you receive a CPP disability benefit, it automatically converts to a retirement pension at 65.
More calculators are on the tools page.
Questions people ask
What is the maximum CPP payment in 2026?
Service Canada lists the maximum monthly CPP retirement pension at age 65 as $1,507.65 for benefits beginning January 2026. The maximum increases every month because of the enhancement.
What is the average CPP payment in 2026?
The average monthly retirement pension at age 65 is $858.34 as of July 2026, according to Service Canada.
How much is CPP reduced if I start at 60?
Your pension is reduced by 0.6% for each month before age 65, which is 7.2% a year and a maximum of 36% at age 60, so you would receive 64% of your age-65 amount.
How much does CPP increase if I wait until 70?
It increases by 0.7% for each month after 65, which is 8.4% a year and a maximum of 42% at age 70, so you would receive 142% of your age-65 amount. There is no benefit to waiting after 70.
When should I apply for CPP?
You can apply up to 12 months before the date you want your pension to start. Service Canada recommends applying early so payments begin on your chosen date.
How do I apply for CPP?
Apply online through My Service Canada Account, which is the recommended way, or mail the paper application ISP-1000. You need your Social Insurance Number and direct deposit details.
Can I get CPP payments backdated?
If you apply after 65, you can request a retroactive start date up to 11 months before the month your application was received, but no earlier than the month after your 65th birthday.
Does the CPP amount change if I keep working?
If you work and contribute to CPP while receiving the pension, you may earn a post-retirement benefit, which has a 2026 maximum of $54.69 a month at age 65.
Looni reads your statements and flags fees, subscriptions and interest charges, so you know your real monthly numbers before you plan retirement income. Read-only, no advice.
Sources
Service Canada, CPP retirement pension: How much you could receive (maximum $1,507.65 as of January 2026; average $858.34 as of July 2026; factors affecting your amount; contribution rates), CPP pensions and benefits monthly amounts (post-retirement benefit figures; maximums rise monthly with the enhancement), When to start your pension (0.6% monthly reduction to 36%, 0.7% monthly increase to 42%, retroactivity) and Apply for the CPP retirement pension (12 months in advance, online and paper timelines, what you need). The Priya example and the age 60 and 70 dollar amounts are illustrative; the arithmetic is ours.
Planning the rest of your retirement income? See the RRIF minimum withdrawal table and calculator.