If a surviving pensioner is below the age of 65, the calculation is: (37.5% x the deceased pensioner’s former payment) + (a flat rate benefit that increases each year – in 2024 it’s $204.69). If a surviving pensioner is older than 65, then the calculation is simply: 60% x the...
your CPP payout increases. As for how much your CPP payment will be, that depends on two main factors: how much you earned during your career and how old you are when you begin taking your pension. You reach the maximum amount when you hit 70, so if you can afford to hold off that...