CPP & OAS Benefit Timing Calculator
Optimize when to start your Canada Pension Plan (CPP) and Old Age Security (OAS) benefits. See how different timing strategies impact your lifetime retirement income.
Cumulative Benefits by Age
Total benefits received over time, showing early vs delayed start trade-offs.
Timing Options
$540/mo (0.0% vs 60)
$735/mo (0.0% vs 65)
Avg: $845, Max: $1,433
Use our life expectancy calculator to estimate
Monthly Combined
$1275
CPP + OAS benefits
CPP at 60
0.0%
vs starting at 60
OAS at 65
0.0%
vs starting at 65
Total Advantage
0.0%
vs earliest start
Lifetime Value Analysis (to Age 85)
Lifetime CPP
$169K
Starting at 60
Lifetime OAS
$195K
Starting at 65
Total Lifetime
$364K
Combined benefits
vs Baseline
+$0
CPP@60 + OAS@65
Key Insights
Detailed Annual Breakdown
Year-by-year benefits with OAS step-up at age 75 (shown in today's dollars)
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Frequently Asked Questions
About This Calculator
Our CPP and OAS Timing Calculator helps you determine the optimal age to start receiving Canada Pension Plan (CPP) and Old Age Security (OAS) benefits. Making the right decision about when to begin collecting government retirement benefits can significantly impact your lifetime retirement income. CPP can be taken as early as age 60 (with a 36% reduction) or delayed until age 70 (with a 42% increase), while OAS can be taken at 65 or delayed until age 70 (with a 36% increase). This powerful calculator models both early and delayed benefit scenarios, showing you the total lifetime benefits you'll receive under different timing strategies. Whether you're planning to retire early, continue working past 65, or considering your spouse's benefits in a coordinated retirement strategy, our calculator provides the insights you need to make an informed decision. The calculator accounts for longevity assumptions, inflation indexing, and the breakeven ages where delaying benefits becomes more advantageous than taking them early.
Key Features
- Model CPP benefits from age 60 to 70 with accurate reduction/increase factors
- Calculate OAS benefits from age 65 to 70 with deferral credits
- See lifetime benefit totals based on your life expectancy
- Calculate breakeven ages for early vs delayed benefit strategies
- Account for inflation indexing on government benefits
- Compare spousal benefit coordination strategies
- Visual charts showing cumulative benefits over time
- Canadian tax considerations for benefit timing
When to Use This Calculator
- Early retirees considering CPP at age 60 vs waiting until 65 or later
- Workers planning to delay CPP until age 70 for maximum monthly benefits
- Couples coordinating CPP and OAS timing for optimal household income
- Individuals with health concerns evaluating early benefit strategies
- High-income earners considering OAS deferral to reduce clawback exposure
- Retirees comparing breakeven scenarios based on family longevity patterns