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When Should You Start Taking Your CPP or OAS?

A common question we get here at Pension Solutions Canada is “When should you start taking your CPP or OAS?”

Watch the video below:


First, you will receive the maximum CPP if:

  1. You contribute the maximum for at least 39 years
  2. You start CPP at age 65.

So, at what age is best for you?

Consider this: CPP drops to about $10,000 / year at age 60 but doubles to about $20,000 / year at age 70.

Do the math!

In an ideal world, a couple could draw $20,000 x 2 from age 70 PLUS $10,000 each for OAS. That’s $60k in government guaranteed, inflation protected pensions from age 70. Don’t forget, you’re expected to live well into your 80s.

The team at Pension Solutions Canada is here to help. We specialize in helping individuals prepare for retirement and understand their pension options. Let us assess and review your income streams in retirement and help you with retirement planning.

Call us at 1-888-554-6661.

Bruce Youngblud, CFP, CIM
Pension Solutions Canada
1-888-554-6661

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