When to start CPP and OAS: 60, 65 or 70?
You can start the Canada Pension Plan (CPP) retirement pension any time from 60 to 70, and Old Age Security (OAS) any time from 65 to 70. Starting later pays more each month for life. The right age depends on your health, your other income and your savings, not on a single rule.
How much each choice changes the pension
| CPP | OAS | |
|---|---|---|
| Earliest start | 60, reduced 0.6% for each month before 65 (36% less at 60) | 65 (no early start) |
| Latest start | 70, increased 0.7% for each month after 65 (42% more at 70) | 70, increased 0.6% for each month after 65 (36% more at 70) |
| Most you can get, starting at 65 | $1,507.65 a month in 2026 (the average new pension at 65 is about $858) | $762.50 a month from 65 to 74 and $838.75 from 75 (October to December 2026) |
| Rises with inflation | Yes, every January | Yes, every three months |
There is no gain from waiting past 70. The full OAS pension needs 40 years in Canada after age 18; with fewer years you get a share (1/40 per year, from 10 years).
Break-even ages
Starting later means fewer payments but bigger ones. Ignoring tax and investment returns, the total received is about the same by these ages; if you live longer, the later start comes out ahead:
| Comparison | Totals equal at about age |
|---|---|
| CPP at 60 versus 65 | 74 |
| CPP at 65 versus 70 | 82 |
| OAS at 65 versus 70 | 84 |
A 65-year-old Canadian can expect to live to about the mid-80s on average, and for a couple there is a good chance that one of them lives past 90. That is why delaying often helps people in good health: it is insurance against a long life, and it is indexed to inflation, which your own savings are not.
What should decide your start age
- Health and family history. A shorter life expectancy favours starting early.
- Whether you need the money now. If you have RRSP or other savings, you can draw them from 60 to 70 and start CPP and OAS later (a bridge). That also uses up RRSP money in years when your tax rate is lower.
- The OAS clawback. If your income from 65 to 69 would claw back most of your OAS anyway, deferring it costs little. See How to reduce the OAS clawback.
- Low income and the GIS. The Guaranteed Income Supplement is only paid while you receive OAS and is not increased by deferring. People who expect to qualify for GIS usually do best starting OAS at 65.
- Survivor benefits. A CPP survivor pension combined with your own CPP is capped at the maximum pension, so a larger pension of your own can mean a smaller survivor top-up.
- Still working. If you work after starting CPP, you keep contributing (optional from 65) until 70, and each year of contributions adds a post-retirement benefit. OAS is not affected by working, except through the clawback.
Spouses can choose different ages. A common pattern is for the higher earner, whose pension is larger, to delay longer.
Try it with your numbers. Both free planners let you set CPP and OAS start ages for you and your spouse, show the CPP deferral break-even with your own figures, and Optimize My Plan tests different start ages by what is left after tax.
Open the Personal / Couple PlannerHolding Company PlannerGeneral information for planning and education, not financial, tax or legal advice.