CPP & OAS Breakeven Calculator
See when delaying CPP and OAS starts to pay off.
Calculator workspace
Waiting until 70 does not pay off by age 88.
Claiming CPP and OAS at 70 instead of 65 adds $0 a month, but you collect five fewer years. By age 88 you would still be $0 behind.
Taking CPP at 65 instead of 60 does not pay off by age 88.
- Claim at 60
- $0/mo
- Claim at 65
- $0/mo
- Claim at 70
- $0/mo
Total Received by Age
How It Works
The calculator applies the statutory age adjustments to the monthly age-65 CPP and OAS amounts you enter, then accumulates lifetime receipts under three claiming strategies: CPP from 60 with OAS from 65, both from 65, and both deferred to 70.
Breakeven ages mark when the cumulative discounted cash flow of a later claiming strategy overtakes an earlier one under your discount rate and life expectancy.
CPP is reduced by 0.6% per month before 65 (7.2% per year) and increased by 0.7% per month after 65 (8.4% per year), up to age 70. OAS cannot start before 65 and increases by 0.6% per month when deferred, up to age 70.
Cash flows are discounted from age 60 at the rate you enter. Personal tax, GIS, OAS recovery tax, and survivor benefits are not included.
What It Leaves Out
- The model does not include income tax, GIS, or OAS recovery tax.
- Couples, survivor benefits, and shared longevity risk are outside this tool.
- A single discount rate is a simplification; cash-flow needs can matter more than lifetime totals.
Statutory CPP and OAS claiming-age adjustments based on 2026 model year.
FAQ
CPP is permanently reduced by 0.6% for each month claimed before age 65 (a 36% reduction at age 60) and permanently increased by 0.7% for each month delayed past 65 (a 42% increase at age 70). Payments are indexed to CPI inflation for life.
Yes. CPP and OAS are completely independent statutory decisions. You can start CPP at 60 while transitioning into retirement, and delay OAS up to age 70 to earn a 36% permanent increase on your OAS payments.
CPP is increased by a statutory 8.4% for each year it is delayed between ages 65 and 70, and payments are indexed to inflation for life. The higher amount is a form of longevity protection, but it costs the payments you would have received in the meantime.