Pensions in Canada: CPP, Workplace Pensions and Retirement Income

CPP Calculator: How to Estimate Your CPP Pension Your personal CPP estimate is in My Service Canada Account under "View my benefit estimates". The government's Canadian Retirement Income Calculator combines CPP, OAS and your savings and shows estimates at ages 60, 65 and 70. The maximum CPP at 65 for January 2026 is $1,507.65 a month. How to Apply for CPP Disability Benefits: Step by Step CPP disability is for people 18 to 65 whose disability stops them from working at any job regularly and is long-term or likely to cause death, and who have enough CPP contributions. Apply online or on paper, and have your doctor or nurse practitioner complete the medical report. The standard decision time is 120 days. Types of Pension Plans in Canada: Public, Workplace and Personal Canada's retirement system has three layers: public pensions (CPP or QPP and Old Age Security), workplace registered pension plans (defined benefit, defined contribution or a mix), and personal savings like RRSPs, TFSAs and pooled plans such as PRPPs and the Saskatchewan Pension Plan. Defined Contribution Pension Plans in Canada Explained In a defined contribution (money purchase) pension plan, you and usually your employer put money into your own account, and your retirement income depends on how much goes in and how the investments perform. The pension amount isn't known until you retire, unlike a defined benefit plan, which promises a set formula. Pension Adjustment (T4 Box 52) Explained The pension adjustment in box 52 of your T4 is the value of the pension benefits you earned that year in a registered pension plan or deferred profit-sharing plan. The CRA uses it to reduce your RRSP deduction limit for the next year. You don't enter it on your return. Pension Income Amount (Line 31400): The Up-to-$2,000 Tax Credit If you receive eligible pension, superannuation or annuity income, you can claim the pension income amount on line 31400: the lesser of $2,000 or your eligible pension income. What counts as eligible depends on whether you are under 65 or 65 and older. Pension Income Splitting in Canada: How It Works (Form T1032) You can move up to 50% of your eligible pension income to your spouse or common-law partner on your tax returns, which can lower your combined tax. Both of you complete and sign Form T1032 and file it with your returns by the deadline. You can choose a different percentage each year. How Pension Income Is Taxed in Canada Pension income such as CPP, OAS and workplace pensions is taxable and is added to your other income at your normal tax rates. Tax may be withheld at source; you can reduce what you owe with the pension income amount, pension income splitting, and other credits for seniors. CPP Phone Number: How to Contact the Canada Pension Plan The Canada Pension Plan phone number is 1-800-277-9914 (Canada and the U.S.). Agents answer Monday to Friday, 8:30 am to 4:30 pm local time, and the automated service runs 24/7. From outside Canada and the U.S., call 1-613-957-1954 collect. CPP and OAS Payment Dates 2026 Remaining 2026 dates: November 26 and December 22. Canada Pension Plan and Old Age Security are paid on the same day each month, near the end of the month. December's payment comes early, on December 22.