CPP and OAS: Canada's two public pensions
Most Canadians receive two government pensions in retirement. The Canada Pension Plan (CPP) is based on what you paid in: the more years you worked and the higher your earnings (up to the yearly maximum), the bigger your pension. Old Age Security (OAS) is not based on work at all — it depends on how many years you lived in Canada after age 18 and is reduced if your income is high. Québec workers receive the Québec Pension Plan (QPP) instead of CPP, which follows similar rules.
CPP amounts in 2026
The maximum CPP retirement pension for someone starting at 65 in 2026 is $1,507.65 a month, but few people get the maximum because it requires contributing at the maximum level for about 39 years. The average pension for new retirees at 65 is about $858 a month. Your personal estimate is in your Statement of Contributions in My Service Canada Account; enter it above for the most accurate result.
Taking CPP early or late
- Before 65: your pension is reduced by 0.6% for each month before your 65th birthday — 7.2% a year, or 36% less at age 60.
- After 65: it increases by 0.7% for each month you wait — 8.4% a year, or 42% more at age 70. There is no benefit to waiting past 70.
The adjustment is permanent, and CPP is indexed to inflation every January. The table in the calculator shows the total you would have received by each age. Starting at 70 usually overtakes starting at 65 around your early 80s, and overtakes starting at 60 in your mid-80s, so the right choice depends on your health, other savings and whether you need the income now.
OAS amounts and eligibility
For October–December 2026, the maximum OAS pension is $762.50 a month for ages 65 to 74 and $838.75 for 75 and older (the 10% increase at 75 began in July 2022). OAS is indexed to inflation every quarter. You need at least 10 years of residence in Canada after 18 to get a partial pension, and 40 years for the full amount; with 25 years you get 25/40 of the maximum. You can delay OAS up to age 70 for an increase of 0.6% per month, up to 36%.
The OAS clawback
If your net income is above $95,323 (2026 income year), you repay 15% of the excess through the OAS recovery tax, deducted from your monthly payments. OAS disappears completely at a net income of about $154,753 for ages 65 to 74. Splitting pension income with a spouse, drawing from a TFSA rather than an RRSP or RRIF, and timing withdrawals can keep your income below the threshold.
Worked examples
A retiree with the average CPP of $858 who starts both pensions at 65 with 40 years in Canada receives about $858 of CPP and $763 of OAS — $1,621 a month. Waiting until 70 for both raises that to about $1,219 of CPP and $1,037 of OAS, or $2,256 a month, for life and indexed to inflation.
Starting CPP at 60 instead pays about $549 a month. By age 75 that person would have collected about $98,900, slightly less than the $103,000 collected by starting at 65; by 85, starting at 65 is ahead by about $41,000, and starting at 70 is ahead of both.
Someone with the maximum CPP and a net income of $110,000 receives $1,508 of CPP, but loses about $183 a month of OAS to the clawback, leaving $579. A newcomer with 25 years in Canada receives 25/40 of OAS, about $477 a month.
Low-income seniors may also qualify for the Guaranteed Income Supplement (GIS), which isn't included here. To see how much your own savings add, try our RRSP calculator and TFSA calculator.
Frequently asked questions
How much is CPP at 60 compared with 65 and 70?
What is the maximum OAS payment?
At what income is OAS clawed back?
Can I get OAS if I immigrated to Canada?
Sources & methodology
This calculator was last reviewed on November 2, 2026. Figures are based on the following official and primary sources:
- Service Canada – CPP retirement pension: How much you could receive
- Service Canada – Old Age Security payment amounts
- Service Canada – OAS pension recovery tax
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