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What is CPP

The Canada Pension Plan (CPP) is 1 of the main sources of retirement income for Canadian seniors. In Quebec, the program is known as the Quebec Pension Plan (QPP)

CPP payment dates for 2022

The CPP is paid monthly by direct bank account deposit or cheque. These are the CPP payment dates - Opens in a new window

How much CPP will I get?

Everyone gets a unique amount of CPP, based on the amount they contribute to CPP while working. The more you put in, the more you’ll get out. 

The average CPP benefit in January 2021 is $619.75 per month. The maximum amount you could receive as a new recipient starting at age 65 is $1,253.59. 

To receive the maximum CPP amount you must contribute to the CPP for at least 39 of the 47 years from ages 18 to 65. You must also contribute the maximum amount to the CPP for at least 39 years based on the yearly annual pensionable earnings (YMPE) set by the Canada Revenue Agency (CRA). The YMPE for 2021 is $61,600. 

To get a better idea of how much CPP you’ll receive, ask Service Canada - Opens in a new window for your CPP statement of contributions.


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