Q:

What is the maximum CPP you can receive at age 60?

A:

Quick Answer

The maximum amount you can receive from the Canada Pension Plan at age 60 depends on how much and for how long you contributed to the plan, according to Service Canada. For 2015, drawing the pension before age 65 decreases the amount of the pension by up to 34.8%.

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Full Answer

For 2016, drawing the pension before age 65 decreases the amount by up to 36%, explains Service Canada. However, drawing the CPP pension after age 65 may see the pension amount increase by up to 42% at age 70. There is no benefit to postponing receiving the CPP retirement pension after age 70.

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