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.