Waiting until age 65+ to collect CPP

April 08, 2019

If you wait until age 65 or later to begin collecting a Canada Pension Plan (CPP) pension and you have contributed to CPP for your entire career, you’ll most likely not notice a significant difference in your pension income when your bridge benefit ends.

Here are three things you need to know:

  1. To see the current value of your bridge benefit, sign in to your online account, click Pension Payments and then select Pension Summary. We also include it on your annual Retired Member Statement (you receive this each year in the spring). Keep in mind this amount doesn’t include any future inflation adjustments.
  2. Your bridge benefit ends the month after your 65th birthday. We use a formula to calculate the decrease to your Ontario Teachers’ pension. But, your unreduced CPP pension will likely absorb the impact of the decrease.
  3. You’ll be eligible to receive Old Age Security (OAS), which should also help to offset the decrease to your pension.

Need more information? Explore You and CPP.

If you have questions about CPP or OAS, contact them directly.