CPP & OAS 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
CPP and OAS benefits received over time in today's purchasing power. Shows the trade-offs between starting early vs waiting.
Note: These amounts represent what you'd receive if you retired today. CPP and OAS are automatically adjusted for inflation, so your actual payments will be higher to maintain this purchasing power.
Chart only available on larger screens
View on a tablet or desktop to see the visualization
Monthly Combined Benefits
$1275/month
CPP at 60 vs CPP at 60
+0.0%
OAS at 65 vs OAS at 65
+0.0%
Monthly Advantage
+0.0%
Lifetime Value Analysis (Total Benefits to Age 85)
Lifetime CPP Benefits
$233K
Lifetime OAS Benefits
$292K
Total Lifetime Benefits
$525K
Lifetime Advantage
+$0
OAS Step-up: OAS increases from $734.95 to $808.45 at age 75, which is factored into lifetime calculations.
Benefit Timing Options
Adjust key settings to explore different benefit timing strategies.
$540/month (+0.0% vs age 60)
From your CPP Statement of Contributions (Average: $845, Max: $1,433)
$735/month (+0.0% vs age 65)
Average Canadian life expectancy is 85
Key Insights
- • CPP increases 11.25% per year if delayed from 60-65
- • CPP increases 13.125% per year if delayed from 65-70
- • OAS increases 7.2% per year if delayed from 65-70
- • OAS steps up 10% more at age 75
Detailed Annual Breakdown
Year-by-year benefits with OAS step-up at age 75 (shown in today's dollars)
You might also be interested in...
Related calculators that complement your financial planning
Dying Without a Will Calculator
See Who Inherits Your Estate
Dying without a will in Canada? Calculate estate distribution by province. See who inherits your assets under intestacy laws based on family situation.
CPP Survivorship Calculator
Survivor Benefit Estimates
Calculate CPP survivor benefits based on Section 58. Get accurate estimates for widows, widowers, and combined benefits for Canadians.
Rest of Your Life Calculator
Time & Health Visualization
Visualize your remaining lifetime using Canadian mortality data. See your life in weeks, plan healthy years, and make informed time allocation decisions.
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