Income sooner
An earlier start can reduce the amount savings need to provide in the first retirement years.
Focused decision guide
How might CPP and OAS timing change my plan?
Starting benefits earlier can provide income sooner. Starting later may increase the monthly amount, while requiring other income or savings during the waiting period.
Understand the choice
What changes—and what you give up.
A larger later payment
A later start may increase monthly benefits after they begin.
Bridge funding
Delaying benefits may require portfolio withdrawals or other income during the intervening years.
Before comparing
The assumptions that matter most.
- Your own CPP estimate at the ages being compared
- OAS eligibility and residency history
- Other pensions, work income and available savings
- Tax, inflation, longevity and survivor considerations
Test the question
Use the guide with a planning tool.
The Retirement Planner uses benefit estimates you confirm. It does not determine eligibility or replace official Service Canada information.