CPP & OAS Timing Strategy
Deciding when to start CPP and Old Age Security can affect your retirement income, taxes, cash flow, and long-term planning.
Why CPP & OAS Timing Matters
Many Canadians think of CPP and OAS as simple government benefits. In reality, the timing decision can influence your taxable income, RRSP/RRIF withdrawal strategy, investment drawdown plan, estate goals, and overall retirement confidence.
The right decision is not always the same for everyone. It depends on your health, income needs, other assets, spouse or partner’s situation, tax bracket, and whether you are still working.
Three Common Timing Choices
Start Early
CPP may be started as early as age 60, but the monthly payment is reduced compared with starting at 65.
- Useful if income is needed earlier
- May fit shorter life expectancy concerns
- Creates lower lifetime monthly CPP amount
Start at 65
Age 65 is the standard reference point for CPP and OAS planning.
- Simple and common approach
- May align with retirement date
- Useful benchmark for income planning
Delay Toward 70
Delaying CPP or OAS can increase monthly benefits, but it requires enough income from other sources first.
- May improve later-life income
- Can help longevity protection
- Needs tax and cash-flow coordination
Factors to Review Before Deciding
Advisor Insight
The question is not simply when you can start CPP and OAS. The better question is how these benefits fit into your broader retirement income, tax, investment, and estate strategy.
How We Help
1. Review Your Income Sources
We look at CPP, OAS, pensions, RRSPs, RRIFs, TFSAs, non-registered assets, and business or rental income.
2. Compare Timing Scenarios
We compare early, standard, and delayed start dates in the context of your cash flow and tax picture.
3. Build a Coordinated Strategy
We help align government benefits with your retirement income plan and long-term financial goals.
Not Sure When to Start CPP or OAS?
A personalized retirement income review can help you understand your options before making a permanent decision.
Book a Retirement Clarity Call Return to Retirement HubThis page is for general educational purposes only and should not be considered personalized financial, tax, legal, or investment advice. CPP and OAS rules, payment amounts, and income thresholds may change. Please consult with a qualified advisor before making retirement income decisions.
When Should You Start CPP & OAS?
Starting benefits too early or delaying them unnecessarily could impact your retirement income, taxes, and long-term financial security. Explore key considerations before making your decision.
Explore CPP & OAS Timing Strategy →