When to Start CPP and OAS (Updated: 2026)

A common question among people approaching retirement is when they should start receiving Canada Pension Plan (CPP) benefits.

The amount of CPP you will receive is based on your average earnings over your working life, your contributions to the CPP, and the age at which you choose to begin receiving benefits. You can start as early as age 60 or as late as age 70; starting earlier means a smaller monthly amount, and deferring means a larger one. The maximum and average CPP amounts are updated each year by the government. For current maximum and average amounts, see Service Canada – Canada Pension Plan or your My Service Canada Account.

The increase in the amount of CPP you receive if you wait is significant—your benefits can be substantially higher at 70 than at 65. The right choice depends on your circumstances: whether your retirement savings are primarily in registered plans (RRSP/RPP) or non-registered (TFSA, term deposits), your life expectancy, and whether you are still working. One strategy is to withdraw from RRSPs in your early 60s and defer CPP until 70 to maximize after-tax income later. If you have a My Service Canada Account, you can view your estimated CPP benefits at 60, 65, and 70.

Old Age Security (OAS) can be deferred until as late as age 70 for a higher monthly amount (0.6% per month deferred, up to 36% at 70). Eligibility is based on age (65+), citizenship or legal residence, and years of residence in Canada since 18. OAS clawback: if your income exceeds a threshold, you must repay part or all of your OAS. The repayment threshold is indexed annually. For current OAS amounts and clawback thresholds, see Service Canada – Old Age Security.

If this seems overwhelming, give us a call and RHN can help you work through the decision.

This post has been prepared for general information purposes. It is not advice. Please consult one of our trusted business advisors at RHN CPA for further clarification and interpretation of your circumstances.