3. Decide whether to keep working while getting CPP pension
Question & AnswerI want to retire. Can I get CPP benefits?
You can get an extra Post-Retirement Benefit every month for the rest of your life if:
- you're between 60 and 70 and still working when you start getting your , and
- you continue to make .
Working between 60 and 65
If you're between 60 and 65, working, and getting your CPP retirement pension, you must continue to make CPP contributions to get the Post-Retirement Benefit. And if you have an employer, they must contribute as well.
Working between 65 and 70
If you're between 65 and 70, working, and getting your CPP retirement pension, you can decide if you want to make CPP contributions.
Continuing to make contributions
If you continue to make contributions, this money goes towards your Post-Retirement Benefit and increases your CPP retirement pension. This means that even if you're getting the maximum amount each month for the CPP retirement pension, you'll get more because of the Post-Retirement Benefit.
But since the Post-Retirement Benefit increases your overall , it can affect your eligibility or the amount you get from Old Age Security, the Guaranteed Income Supplement, or other benefits that are based on your income.
How much the Post-Retirement Benefit will be
The total amount you get depends on:
- how much you earn,
- the amount of your CPP contributions over the past year, and
- the age when you start getting the Post-Retirement Benefit.
The government has a tool you can use to get an estimate of how much you'll get as the Post-Retirement Benefit.
Getting your payment
If you're eligible for the Post-Retirement Benefit, you'll get it automatically unless the CPP needs more information. You don't have to apply for it.
It's paid monthly the year after you made your contributions. For example if you made CPP contributions in 2019, you'll get the Post-Retirement Benefit in 2020. The government usually starts paying it monthly in April. But you'll also get one payment for what you're owed back to January.
The Post-Retirement Benefit is added to your monthly CPP retirement pension.