Suppose it is 37 years, you might want to delay your CPP payout by three years so the CRA can get a 40-year high-income salary as the base to calculate your CPP. This could increase your chances ...

For every month you take CPP early, you permanently lose 0.6% of the benefit, up to 36% if you take CPP at age 60. For every month you wait after age 60, you increase your benefit amount by 0.7%.

For someone turning 65 in 2024, the maximum annual CPP pension is about $16,400. This reflects the effects of the CPP expansion from 2019 up to now. That amount will continue to rise with inflation.