When is an individual entitled to receive CPP retirement benefits based on their contributory period?

Individuals are entitled to receive Canada Pension Plan (CPP) retirement benefits starting at age 65, which is the standard age for receiving full benefits based on their contributory period. The CPP is designed to provide a basic level of financial support to Canadians during retirement and is funded through contributions made by workers and employers during an individual's working life.

While individuals can choose to begin receiving their CPP retirement benefits as early as age 60, doing so would mean that the amount they receive will be reduced to reflect the earlier start date. Conversely, if they delay receiving benefits until after age 65, up to age 70, their monthly payments will increase for each month they postpone taking the benefits, providing an incentive for individuals to delay if they can afford to do so. However, the standard entitlement, from which the full benefit amount is calculated, remains at age 65. This reflects the design of the program, aligning with the typical retirement age for Canadians.