It depends on your income and when you can afford to retire. Let’s take a look at different retirement ages in Canada and when most Canadians choose to retire.
What is the Average Retirement Age?
In Canada, the average overall retirement age is 65.4. That said, the average does vary depending on your profession. According to Statistics Canada, the average retirement age for public-sector employees is 62.5. The average retirement age for the self-employed is 68, and for private-sector employees, 66.
As you can see, while all of these averages are different, they’re all close to 65 years old. This indicates that most Canadians retire between the ages of 60 and 70.
What Was the Average Retirement Age in 2025?
According to Statistics Canada, the average retirement age in 2025 was also 65.4 years. For men, the average age was 66.2 years, and for women, 64.5 years. The average retirement age for the self-employed is 68.4 years, and 66 years for private-sector employees. It was 62.6 years for public sector employees.
Age of Retirement for Women In Canada
While gender doesn’t play a huge role in retirement, if you look at the averages, women tend to retire a little earlier than men. Let’s look at the average overall retirement age compared to the average age of retirement for women.
| Employment Sector | Average Overall Retirement Age | Average Retirement Age for Women |
| All | 64.6 | 63.6 |
| Public Sector | 62.7 | 62.0 |
| Private Sector | 64.7 | 64.4 |
| Self-Employed | 66 | 67.3 |
Do You Retire at 65 or 67 in Canada?
You may be surprised to learn that there actually isn’t a mandatory retirement age; there used to be. Until 2009, you had to retire by age 65 or earlier. That said, there are still some professions that have a mandatory retirement age, but the majority of professions allow you to work for as long as you choose to. Some examples of these professions are:
- Firefighters
- Air Traffic Controllers
- Military Personnel
- Police Officers
The reason certain professions have a mandatory retirement age is that continuing to work in these professions after a certain age could be harmful to employees and the public. When a specification, such as a mandatory retirement age, is made for a position, it’s referred to as a BFOR (Bona Fide Occupational Requirement).
Since there’s no mandatory retirement age in Canada, you can still be eligible for Employment Insurance after the age of 65. That said, you do need to meet the eligibility requirements.
What is the Best Age to Retire?
For most Canadians, the best age to retire is 65. This is because most government benefits become available then. While you can get these benefits earlier, you will only be able to receive the full amount once you turn 65. However, if you choose to retire at the age of 70, you can get a bit more from these benefits.
If you have an RRSP (Registered Retirement Savings Plan), you have until the end of the year you turn 71. The great thing about this is that if you retire at 65 and don’t choose to use your RRSP right away, you have a few years until you have to withdraw it in one lump sum or turn it into an RRIF (Registered Retirement Income Fund). This applies whether you’ve met your eligible contribution limit or not.
Retirement Age According to Province
In Canada, most Canadians retire around age 65. That said, the averages and retirement ages do change based on where you live. Let’s take a look at the different retirement ages for each province.
British Columbia
In BC, most people choose to work right until they are 65. That said, though, depending on their financial situation and pension, some people do decide to retire at 55. Many employment pensions do allow you to retire at 55, but you will get a full retirement pension at 65. However, there’s no mandatory retirement age for most jobs.
Alberta
Just like BC, there’s no mandatory retirement age in Alberta. However, Alberta does offer a Seniors Benefit that you must be 65 to qualify for. There are additional requirements you must meet, but these do not affect the retirement age.
Saskatchewan
In Saskatchewan, the retirement age is 65. That said, you can retire as early as 60 or wait until 70. Some choose to retire even later. When you decide to retire, it will determine your monthly income.
Manitoba
Depending on your pension and monthly income, you can choose to retire as early as 55 or as late as you like. Your pension could be less if you choose this option, though. Most pensions give full benefits at 65.
Ontario
The average retirement age is 65. Most pensions kick in at 65 in Ontario, and it’s when you receive full government retirement benefits.
Quebec
Under the Quebec Pension Plan, you can start receiving full QPP at 65, but you can also choose to take it at the age of 70. If you take your QPP at 60, you’ll receive a lower pension amount.
Nova Scotia
In Nova Scotia, you can retire as early as 55 or 60, depending on your financial situation. That said, many people start to retire at 65.
New Brunswick
In New Brunswick, most people choose to retire between 55 and 65. However, in New Brunswick, if you have a LIF (Life Income Fund), you can take it out before you turn 55. In most provinces, you have to be at least 55 to access it since they’re meant for retirement.
Newfoundland and Labrador
As in the rest of Canada, most Canadians living in Newfoundland and Labrador retire around age 65. However, 55 is also common across many different pension plans.
Prince Edward Island
In PEI, the standard retirement age is between 60 and 70. That said, you can actually retire as early as 55.
Nunavut
In Nunavut, you can retire between the ages of 55 and 70. That said, many people still choose to work until they’re 65 or older.
Northwest Territories
In the Northwest Territories, you can also retire between the ages of 55 and 70. There are many ages at which people choose to retire, but many wait until their benefits are fully available at 65.
Yukon
Right now, the average Canadian in the Yukon retires at 65. However, that could increase to 67 with the change to OAS and GIS benefits.
New Retirement Age in Canada
Right now, you can still access all of your benefits at 65. That said, as of April 1, 2023, the transition to getting OAS and GIS benefits at 67 instead of 65 had begun. However, that has since ended and returned to the age of 65
Old Age Pension in Canada
We’ve already mentioned that one of the benefits you receive when you retire in Canada is the Old Age Security Pension. How much you receive for an OAS pension depends on your annual income. Depending on your annual income and marital status, you could also receive GIS (Guaranteed Income Supplement).
Here are the amounts you could receive for OAS.
| Age | 2025 Net Income | Max Monthly Payments |
| 65 to 74 | Less than $152,062 | Up to $762.50 |
| 75 and up | Less than $157,923 | Up to $838.75 |
Here are the amounts you could receive for GIS.
| Situation | Annual Net Income | Max Monthly Payment Amount |
| Single, Widowed or Divorced | Less than $23,112 | Up to $1,138.90 |
| Spouse/common-law partner who receives a full OAS pension | Combined income of less than $30,528 | Up to $685.56 |
| Spouse/common-law partner who receives the allowance | Combined income of less than $42,768 | Up to $685.56 |
| Spouse/common-law partner who doesn’t receive full OAS pension or allowance | Combined income of less than $55,392 | Up to $1,138.90 |
To receive the GIS, you must already be receiving OAS pension amounts and be considered low income. While RRSPs do contribute to your annual income, there are other savings, such as TFSAs and high-interest savings accounts, that don’t.
To be approved for both OAS and GIS, you must:
- Be 65 years of age or older
- Have lived in Canada for at least 10 years since the age of 18
- Be a Canadian citizen or legal resident
There are some other criteria you can meet if you’re living outside of Canada but still qualify for OAS.
How Long Do You Have to Live in Canada to Get OAS?
To start receiving Old Age Security benefits, you need to have lived in Canada for a minimum of 10 years after you have turned the age of 18. However, this is only for partial benefits and if you still currently live in Canada.
If you no longer live in Canada, you must have lived in Canada for at least 20 years since age 18. To get the full OAS benefits, you need to have 40 years of residency in Canada after the age of 18.
How the OAS Clawback Impacts Retirement Timing
The OAS clawback, which is officially the Old Age Security recovery tax, reduces your monthly OAS benefit by 15 cents for every dollar that your net world income exceeds the annual threshold. This threshold is currently $95,323 for 2026.
Delaying OAS to 70 for a 36% Increase
When you choose to have your Old Age Security pension delayed past age 65, your monthly payment increases by 0.6% per month. That also translates to 7.2% per year. If you wait until age 70, you can get the maximum increase of 36%.
Age to Get CPP in Canada
When you’re considering whether or not to get your CPP at age 60 or 65, there are a few factors you should keep in mind. The age you choose to take your CPP will affect how much you receive. Here are the scenarios by age.
- If you take your CPP at 65, you’ll receive the average amount.
- If you take your CPP before 65, your payments decrease by 7.2% per year. Up to 36% if you take your CPP at 60.
- If you take your CPP after 65, your payments increase by up to 8.4% per year, and by up to 42% if you wait until you are 70.
Ultimately, though, the best time to take your CPP is based on your financial situation. For some people, waiting and taking a larger CPP payment is better for them than taking it early. For others, taking the smaller payments earlier could make a big difference in their overall financial situation.
Can You Get CPP At the Age of 60 and Keep Working?
When you turn 60, you’re able to start collecting CPP while still working. In fact, you can start receiving your Canada Pension Plan (CPP) benefits at age 60, whether you’re fully retired, work part-time, or work full-time. The amount that you receive in CPP payments won’t be reduced because you have earned income.
How Much CPP Will You Get Retiring at 60
When it comes to your CPP pension, the amount you receive depends on when you retire and how many years you worked. If you choose early retirement and choose to receive your CPP benefits at the earliest age of 60, you will receive a smaller monthly payment.
At 2026 rates, even if you continue working and make the maximum reductions, the maximum amount (full pension) is $964.90 per month. That said, the average CPP amount is $549.34. If you have a company pension plan, then that amount is on top of that.
Retiring at 55 In Canada
While it’s more common to retire after age 65, or even after age 70, you can technically retire whenever you like. That said, if you retire at 55, you can’t get CPP or OAS yet. Depending on any other pension benefits that you may have, you may be able to start collecting at the age of 55.
When it comes to pension benefits, you can delay CPP until the age of 70, but you can start taking CPP at the age of 60. If you aren’t quite ready to retire, though, and keep working, you can still collect CPP and OAS.
What is the CPP Post-Retirement Benefit?
Along with your CPP retirement pension is the CPP post-retirement benefit. This is a lifetime monthly payment added to your pension for individuals who continue to contribute to CPP while receiving CPP/QPP (Quebec Pension Plan).
From ages 60 to 64, contributions are mandatory for those who are both working and receiving CPP retirement benefits. For those aged 65 to 70, all CPP contributions are voluntary on your pensionable earnings. At age 70, you automatically stop making CPP contributions.
When You Should Apply for CPP and OAS
When you’re ready to apply through your Service Canada account for both CPP and OAS, the process is relatively straightforward. That said, it can be difficult to know when to apply.
To start receiving OAS, you have to be the minimum age of 65 up to the age of 70. For CPP retirement pensions, the standard age is 65, but you can start taking the pension at age 60. However, you do need to wait until the retirement age of 65 to start drawing CPP payments to receive your full CPP.
How the CPP Enhancement Impacts Your Pension
Between 2019 and 2025, the CPP enhancement was phased in. While you do have to make slightly higher contributions, it gradually increases your retirement pension, disability, and survivor benefits.
The CPP benefits now aim to replace 33.3% of your average covered earnings, up from the original 25%. For someone who qualifies for the maximum monthly payment, their amount will eventually be increased by 50%.
This increase also applies to the maximum amount for many Canadians with health issues who receive disability payments. The maximum monthly survivor benefit amounts for the family or dependent child of a deceased CPP contributor will also increase. The one-time payment for a death benefit isn’t set to change.
Life Expectancy and Choosing When to Retire
In Canada, the average life expectancy is 82 years. Many who reach the age of 65 can expect to live another 20 to 22 years. However, when deciding when to retire, you need to consider your expected life expectancy and your health. This is why many choose to retire between the ages of 62 and 65.
Final Thoughts
When it comes to retirement age in Canada, there is no specific age at which you need to retire. Many factors will impact your retirement age, including your financial security. You can use RRSPs to save for retirement as well as defer taxes, pension sharing with your legal spouse, employer pensions, and just general savings to help meet your retirement goals.
When it comes to government pension benefits, the amount you receive is based on how much you’ve worked and the consumer price index. Depending on when you apply, you may receive retroactive payments; however, you can plan it so you don’t need to.
If you’re unsure whether or not you can afford to retire, it might be a good idea to speak with a financial advisor. They can help you figure out if you can afford to retire, or what you need to do to retire when you want to.
