Visit Globe Investor and use our free Canada Pension Plan (CPP) at 60 vs 65 Calculator to quickly compare the value of CPP benefits if you take them earlier or later.

After all the tax deductions from your Canada Pension Plan Fortis stocks, Fortis stocks might be able to help you boost your retirement income.

By applying the drop-out provision, those years are removed from the calculation, meaning your CPP is based on a higher average income.

Step 2: Find your marginal tax rate Once you know how much CPP you’re going to get, you need to find your marginal tax rate. That’s the tax rate you’ll pay on an extra dollar of income.

Here’s how Canada’s retirement pension plan works, who’s eligible for CPP, when you can start receiving CPP, and CPP payment dates for 2025.