Canada Pension Plan (CPP) Retirement Pension: Who Qualifies and What You Get
Learn how the CPP retirement pension works, including when you can start receiving payments and how choosing an early start date affects your money.
The Canada Pension Plan (CPP) retirement pension provides a monthly taxable payment to help support you during your retirement years.
Who it's for
This program is available to anyone who has made contributions to the Canada Pension Plan throughout their working life.
What you get
You receive a monthly taxable benefit. You have the option to begin receiving these payments as early as age 60.
What it costs you
There is no upfront fee to access this benefit. However, choosing to start your payments early will result in a permanent reduction in the amount of money you receive each month.
The catch to know
The pension is not automatically sent to you. You must submit an application to receive your payments; otherwise, you will not get the money.
How to apply
- Review your eligibility and decide on your preferred start age.
- Gather any necessary personal and financial documentation.
- Submit your application through the official government portal.
https://www.canada.ca/en/services/benefits/publicpensions/cpp.html