At what age should I take my CPP/QPP?
The normal age for retirement under the Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) is 65. This is when you are eligible to receive the full pension you qualify for based on your years of participation and level of contribution into the plan. You are entitled to begin receiving your pension as early as 60 and as late as 70, however, the benefits are permanently reduced by about 6.5 per cent for each year before age 65.
Consider the following points when deciding when to start taking your CPP (or QPP) benefits:
Every situation is unique and the above should not be taken as individual advice. If you are uncertain of your circumstance, it is best to consult your situation with a qualified financial advisor.