Canadian Retirement Income Calculator - Canada Pension Plan

The amount of your retirement pension depends on how much and for how long you contribute to the Canada Pension Plan (CPP). It also depends on your age when your pension begins. The closer you are to your retirement, the more accurate your estimate will be. Inputting information from your CPP Statement of Contributions would allow for a more accurate projection. If you do not have a CPP Statement of Contributions, or if it does not provide an estimate for the age of 65, you can approximate what your CPP retirement pension will be. You may also access My Service Canada Account to view your estimated CPP benefit.

You can receive an actuarially adjusted CPP retirement pension as early as the age of 60 or as late as 70. This means, if you plan to start receiving your CPP retirement pension before 65, your retirement pension will be reduced by a set percentage for each month before age 65 that you choose to begin receiving it. This reduction is permanent. If you receive it after 65, your retirement pension is increased by a set percentage for each month after age 65 that you delay receiving it, until age 70.

The CPP post-retirement benefit (PRB) is a new benefit for people who work and make CPP contributions while already receiving a CPP retirement pension. A PRB is payable the year following the year you make contributions. You will receive a new PRB for each year you make contributions.

The amount of your retirement pension depends on how much and for how long you contribute to the Quebec Pension Plan (QPP). It also depends on your age when your pension begins. The closer you are to your retirement, the more accurate your estimate will be. Inputting information from a Statement of Participation from Retraite Quebec would allow for a more accurate projection.

Since you have indicated that you do not have a Statement of Participation, you can use the dropdown menu to select the amount you expect to receive. This menu defaults to the average value of a QPP retirement pension. You can change the preselected value if you think you may get a higher or lower amount. The younger you are, the more difficult it is to be accurate.
Starting in January 2019, the QPP is being enhanced. This means people will receive higher benefits in exchange for making higher contributions to the QPP. For more information on the QPP retirement pension, contact Retraite Québec.