Should I take CPP at 60 or 70?
Early CPP reduces monthly payments permanently. Delaying increases them. Health, employment, and other income determine the best choice.
Behavioral lens: Hyperbolic discounting
CPP and OAS Estimator
Estimate combined government pension income at different CPP start ages. Plus a behavioral lens on hyperbolic discounting so the math matches your mindset.
Educational estimates only. Not personalized advice. Data targets 2026 Canadian rules.
Retirement inputs
%
Government pensions
Combined monthly$1,884/mo
CPP (adjusted)$1,157/mo
OAS estimate$727/mo
Combined annual$22,613
CPP adjustment vs 65+0.0%
Behavioral lens: Hyperbolic discounting
Hyperbolic discounting on CPP start age
Cash at 60 feels urgent. Higher payments at 70 feel uncertain. Hyperbolic discounting makes early CPP look smart until you model lifetime income, not just the first cheque.
Model start age with your full retirement picture
PsyFi projects government pensions alongside spending habits and portfolio drawdown.
Model retirement in PsyFiFAQ
Is this PsyFi calculator free?
Yes. Every PsyFi free tool runs in your browser with no signup. We built them to pair accurate Canadian math with behavioral science, not to gate basic estimates behind an account.
Does PsyFi store what I type?
No. Inputs stay on your device. Nothing you enter is sent to PsyFi servers.
Is this personalized financial advice?
No. These are educational estimates using published Canadian rules for 2026. They are not tax, legal, mortgage, or immigration advice. Confirm current rates and your situation with qualified professionals before acting.
Estimates for education only. Not financial, tax, mortgage, immigration, or legal advice. Canadian rules and rates change. Verify current figures with qualified professionals before making decisions. PsyFi tools add behavioral context; they do not replace personalized planning.