I have no plans to retire any
I’ve been contributing to the CPP since I started working in 2004, so I figured I must have some CPPNew Diet pension benefit accumulated for when I retire after age 60.
The Government of Canada will provide you with an estimate of yourSearch job? monthly CPP pension benefit throughSearch job?Search job? their Service Canada website.Search job? Here is how you can access yours.
Step 1: Go to the Service Canada Website
Step 3: View your CPP benefit estimate summary
My CPP pension benefit estimate tells me that if I retire at agePlease Donate our site 65 I would be entitled to $408.32 per month orPlease Donate our site $4,899.84 per year. The maximum retirementPlease Donate our site pension monthly amount at age 65 for this year is $986.67 so that meansPlease Donate our site I am eligible for ~41% of the maximum benefit amount.
I was quite shocked at how high these estimates were considering that I have only been contributing to CPP for 7 years and did not contribute anywhere near the maximum CPP amount in my first years of working.
So, what is your monthly CPP pension benefit estimate?