The standard age to start the pension is 65. However, you can start receiving it as early as age 60 or as late as age 70. If you start receiving your pension earlier, the monthly amount you'll receive will be smaller.

What is the best age to collect CPP?

The Ideal Scenario: Maximizing CPP Payouts

If you have a pension in the latter category (Defined Contribution Pension Plan) or no pension plan, it may be tempting to collect CPP at 65 or even earlier. However, if it's feasible, you may want to defer your CPP payments until you turn 70.

Is it better to collect CPP at 60 or 65?

The breakeven point for taking CPP at 60 vs. taking it at 65 is around age 74. When it's unlikely that you will live past 74 years, the math says it's better to take CPP early. Other considerations that may factor into your life expectancy include your family health history.