Q:

What is the max monthly CPP pension payment?

A:

Quick Answer

From January to December 2015, the maximum monthly Canadian Pension Plan payment for eligible retirees age 65 or older is $1065.00. The retirement benefit is available for any Canadian resident who has made at least one payment to the CPP.

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Full Answer

Full retirement benefits are available at age 65, and reduced benefits are available for those over 60. The maximum payment amount is based on how long and how much the worker has contributed to the plan, and the maximum amount changes annually. The CPP website has an online application and a benefit table that is updated each January with eligibility requirements and the maximum benefit amount for the plan year.

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