How to Calculate CPP Retirement

The CPP allows Canadians to save for retirement.
The CPP allows Canadians to save for retirement. (Image: Jupiterimages/BananaStock/Getty Images)

The Canada Pension Plan is a retirement savings system that all Canadian workers must contribute to -- with the exception of workers in Quebec, who contribute to the Quebec Pension Plan. The amount you receive from the CPP depends on the age at which you begin collecting and the amount that you have contributed. You can calculate your CPP retirement income using the Canadian retirement income calculator provided by Service Canada.

Obtain your CPP statement of contributions. You can view this by visiting your My Service Canada account.

Go to the Service Canada online retirement income calculator.

Read the introduction and when you are ready to proceed, click "next."

Fill in your date of birth and your gender. Click "next."

Provide the information requested regarding the Old Age Security Program and proceed until you reach the Canada Pension Plan section.

Respond yes to the question "Do you have a CPP Statement of Contributions that states your retirement pension estimate?" If you do not have your CPP statement of contributions, you will not be able to proceed.

Enter the date of your CPP statement of contributions.

Enter your CPP retirement pension estimate for when you are 65, as listed on your CPP statement of contributions and press the "next" button.

Select the age at which you plan to start receiving your CPP benefits from the drop down menu. Click the "next" button. You will now be provided with a monthly and annual estimate of your CPP retirement pension.

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