Lantern Wealth · CPP Planning

When Should You Take CPP?

A pure break-even view of CPP timing — based only on how long you expect to live. It leaves out other investment income, OAS, taxes, and inflation, so you can isolate this one decision before layering the rest of the plan on top.

CPP is adjusted permanently based on when you start it: every month taken before 65 cuts the payment by 0.6% (up to −36% at exactly 60), and every month delayed past 65 adds 0.7% (up to +42% at exactly 70). Those percentages — not dollars — are what actually decide the answer below.

Your assumption

If you live until age 85
Statistics Canada life expectancy at 65 is roughly 84–87. Move this to see how the answer changes.
The optimal age below is the same for everyone — it comes purely from the adjustment percentages above, not from your CPP amount.

Result

Take CPP at 69y 1m

Living to 85, starting CPP at this age maximizes total lifetime income.

Lifetime CPP income by start age, as % of the best choice

Each point is a possible CPP start age. The gold dot marks the optimum.

Reference points

Age 60 vs. Age 65
73y 11m
Live past this age and starting at 65 pays more, in total, than starting at 60.
Age 65 vs. Age 70
81y 11m
Live past this age and delaying to 70 pays more, in total, than starting at 65.
Start ageMonthly payment, vs. age 65Lifetime income, vs. age 65