12 retirement numbers every Canadian should know for 2026
A handful of numbers drive most Canadian retirement decisions — and most articles just list them. This one explains what each number actually does to a plan, where people trip over it, and where to dig deeper. Every figure below is verified against CRA and Service Canada for 2026 and powers the math in our free calculators.
1. Maximum CPP at 65 — $1,507.65/month
This is the most anyone starting CPP at 65 in 2026 can receive. It requires roughly 39 years of contributions at or above the earnings ceiling — a near-perfect contribution record that very few people have.
The number most people should anchor on instead: the average new pension at 65 is about $925/month. If you're planning with the maximum "to be safe," you're likely overstating your income by nearly $7,000 a year. The real figure is on your Statement of Contributions in My Service Canada Account, and it takes five minutes to look up.
One more wrinkle: the maximum is climbing. The CPP enhancement (phased in since 2019) will eventually replace 33% of covered earnings instead of 25%, and the second earnings ceiling (see #9) is part of that. Younger workers will retire with meaningfully larger CPP than today's retirees.
2. CPP timing — −0.6%/month early, +0.7%/month late
Start CPP at 60 and it's permanently reduced 36%. Wait until 70 and it's permanently increased 42%. The gap between the two extremes is enormous: a $1,000-at-65 pension becomes $640 at 60 or $1,420 at 70 — a 122% difference in monthly income, for life, indexed.
Deferral is effectively buying inflation-indexed guaranteed income at a price no insurance company will match. The catch is you need to fund the gap years from savings, which is why the right answer depends on your health, your other assets, and — for couples — who's likely to survive whom (the survivor benefit is capped hard — see #12).
3. Maximum OAS — $751.97/month (65–74), $827.17/month (75+)
For the July–September 2026 quarter, at 40 years of Canadian residency after 18. Two mechanics people miss:
Residency proration. Fewer than 40 years of residency after your 18th birthday = a proportional pension (25 years = 25/40ths), with a 10-year minimum to collect in Canada. Years worked don't matter; years lived here do.
The 75+ bump. OAS is 10% higher from age 75 — automatic, no application.
OAS can also be deferred past 65 at +0.6%/month (max +36% at 70). Unlike CPP, there is no early option.
4. OAS clawback threshold — $95,323
Above this 2026 net income, the recovery tax claws back 15 cents of OAS per extra dollar until it's gone entirely (around $155,500 for ages 65–74). Three things worth knowing:
It's tested on individual net income, not household — a couple can each earn $95,000 with zero clawback. It's based on net income, which includes the 38% gross-up on eligible dividends — $10,000 of dividends adds $13,800 to the test. And it's exactly why account order matters: RRIF withdrawals count toward it, TFSA withdrawals don't.
5. GIS maximums — $1,123.17/month (single), $676.09 each (couple)
The Guaranteed Income Supplement is the most under-planned benefit in Canada. It's non-taxable, tops up low-income OAS recipients, and phases out at roughly 50 cents per dollar of other income for singles (gone around $22,800) and 25 cents each per combined dollar for couples both on OAS (gone around $30,100 combined).
That phase-out is the sleeper fact: a low-income senior withdrawing from an RRSP can face an effective rate of 50–75% once GIS reduction stacks on tax. For GIS-range households, drawing registered money down before 65 — before GIS eligibility starts — is often worth more than any other planning move.
6. TFSA limit — $7,000 ($109,000 cumulative)
The annual limit is the boring number; cumulative room is the real one. Anyone 18+ since 2009 who never contributed has about $109,000 of room. In retirement the TFSA is precious for a reason beyond tax-free growth: withdrawals don't count as income for the clawback or GIS tests (see #4 and #5).
7. RRSP limit — 18% of earned income, up to $33,810
Plus any unused room carried forward (it's all on your Notice of Assessment). The retirement-planning angle: RRSP contributions are a tax-rate arbitrage. They win when your marginal rate today is higher than your expected rate in retirement — and lose when GIS or the clawback pushes your effective retirement rate above today's (see #5).
8. RRIF minimum at 71 — 5.28%, rising to 20% at 95
Your RRSP must convert to a RRIF (or annuity) by the end of the year you turn 71, and mandatory minimum withdrawals follow — 5.28% of the January 1 balance at 71, climbing every year after. Two planning notes: the minimum is calculated on the January 1 value, not today's, and couples can elect to base minimums on the younger spouse's age — a free option that shrinks forced withdrawals and preserves tax control.
9. CPP earnings ceilings — $74,600 and $85,000
The YMPE ($74,600) is the traditional ceiling CPP contributions and benefits are built on. The second ceiling — YAMPE, $85,000 in 2026 — is the CPP enhancement's "CPP2" layer: earnings between the two ceilings now build additional pension. If you earn above $74,600, you're paying more CPP than your parents did — and you'll collect more too.
10. Pension income credit — the first $2,000 is (nearly) free
The federal pension income amount gives you a credit on the first $2,000 of eligible pension income — DB pension payments at any age, RRIF/LIF withdrawals from 65. Provinces add their own (for example, $1,796 in Ontario). The classic move: at 65, convert a small slice of RRSP to RRIF just to create $2,000/year of eligible income, even if you don't need the money. Couples can effectively double it via pension income splitting.
11. LIF maximums — 5.91% to 7.38% at 65
If you have locked-in pension money (a LIRA or LIF from a former employer's plan), you can't just withdraw what you want: a LIF has a jurisdiction-set maximum — about 5.91% at 65 under federal rules, 7.38% under the Ontario/BC/Alberta table — alongside the RRIF-style minimum. Saskatchewan (PRIF) and Quebec (for holders 55+) have no maximum at all. The jurisdiction is where the pension was regulated, not where you live — a detail that quietly produces wrong plans when missed.
→ Model locked-in accounts properly in the Plan Builder
12. The survivor ceiling — $1,507.65 combined
When a spouse dies, the survivor receives 60% of the deceased's calculated CPP (at 65+) — but own-plus-survivor CPP is capped at the maximum single pension (#1). A couple who each earned strong CPP can lose one entire pension at first death, along with one full OAS and the ability to split income. It's the biggest financial shock most couples never model — which is why our Plan Builder stress-tests it explicitly.
Put them together
Numbers are inputs, not a plan. The interactions are where retirement planning actually lives: RRIF minimums push income toward the clawback threshold; TFSA withdrawals dodge the GIS test; CPP deferral trades portfolio risk for longevity insurance. See how they interact for your situation in the free Plan Builder — a complete plan for singles and couples with the tax math shown — or start smaller with the readiness check and cash-flow projection.
Not financial advice. Figures verified against CRA and Service Canada for 2026 (OAS/GIS figures are for the July–September quarter); amounts change — confirm current values before deciding.