What is the maximum CPP benefit in 2024?

Maximum CPP retirement pension at age 65: $1,364.60/month. Average benefit is much lower (approximately $760/month) as it depends on contributions throughout your career. Enhanced CPP will gradually increase maximum over decades.

What is the OAS clawback?

Old Age Security (OAS) pension is clawed back (recovered) for net world income above $90,997 (2024). Clawback rate: 15% of income above threshold. OAS is fully recovered at income approximately $148,066.

What is the Enhanced CPP (CPP2)?

From 2024, CPP2 adds a second earnings ceiling (YMPE2: $73,200 in 2024). Employers and employees each contribute 4% on earnings between YMPE ($68,500) and YMPE2. Creates a second tier of CPP benefits over time.

When should I take CPP?

CPP can start as early as 60 (reduced) or as late as 70 (enhanced). Taking at 60: permanent 36% reduction. Taking at 70: permanent 42% increase vs age 65. Break-even for delay is approximately mid-70s.

What is the CPP Survivor Benefit?

Surviving spouse/common-law partner receives: under 65: flat rate of $282.43 plus 37.5% of late partner CPP. Over 65: 60% of late partner CPP. Maximum combined own and survivor CPP capped at the maximum CPP.

Canadian CPP Benefit Calculation and OAS Clawback Calculator

Calculate Canadian Pension Plan (CPP) benefits and OAS clawback. Max CPP at 65: $1,364.60/month (2024). OAS clawback (repayment) threshold: $90,997. Enhanced CPP2 contributions since 2024.