Canada Pension Plan
The Canada Pension Plan (CPP) retirement pension provides a monthly benefit to eligible Canadians.
You must have worked and made at least one valid contribution (payment) to the CPP to qualify for a CPP retirement pension. The standard age to begin receiving the pension is 65. However, you can take a permanently reduced CPP retirement pension as early as age 60 or take a permanently increased pension after age 65.
When should I take my retirement pension?
Before you decide when to take your retirement pension, you should consider the following:
- How your age will affect your monthly payment
- Whether you plan on working while receiving your pension
- How much and how long you have made contributions to the CPP
- Your personal savings, investments or company pension plan
- Your retirement planning and lifestyle you want when you retire
- Your current health, family health history or any disabilities
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