Retirement Planner

Two questions in one tool: when should you claim CPP, and will your savings last? Switch tabs anytime.

Your decision

Start collecting at age

yrs

6070

Years expected to live

yrs

535

Your contributions & income

CPP earned (% of max)

20100

Retirement income (for OAS clawback)

$0$300,000

Monthly total at age 65

$2,025

CPP: 1,282 · OAS: 743

Annual income

$24,295

Lifetime benefit

$494,810

over 20 years

vs collecting at 65

+$0

Age 65+0.0% vs age 65

CPP adjusts by -0.6% per month for each month before 65 (max -36% at 60), and +0.7% per month after 65 (max +42% at 70).

The break-even age - live past it, and the later claim pays more in total. Family longevity is the deciding variable.

65 beats 60 if you live pastage 74

70 beats 65 if you live pastage 82

Living to 85 (your inputs), claiming at 70 collects the most overall.