As a HOOPP member, when you retire you’ll receive a secure monthly income for the rest of your life. In addition to your HOOPP pension, you'll also receive Canada Pension Plan (CPP) retirement benefits. Together, these pensions can help form a significant portion of your retirement income. 

Here, we answer some of the most common questions our members have about CPP benefits. If you have more questions, please reach out to our Member Services team for personalized assistance. 

When should I take CPP?

That depends on your personal circumstances. While 65 is the standard age at which you can take your CPP, you can also choose to receive it as early as age 60 or delay until age 70. Keep in mind: you don’t need to start taking your CPP at the same time that you start your HOOPP pension. 

If you take your CPP before you turn 65, you’ll receive 0.6% less for each month prior to you turning 65. However, if you take your CPP after you turn 65, you’ll receive an increase of 0.7% for each month you delay it, until age 70. 

The table below shows an example of how taking your CPP at different ages can affect the total benefit you receive. 

Does my HOOPP bridge benefit stop when I take my CPP?

No. If you retire between the ages of 55 and 65, you’ll receive a bridge benefit in addition to your HOOPP pension and the bridge benefit is paid until you reach age 65, regardless of when you take your CPP. This benefit can supplement your retirement income until you reach age 65 and become eligible for an unreduced CPP benefit. 

How much can I expect to receive from CPP?

The amount of your CPP benefits depends on your age when you start receiving it, how much and how long you’ve contributed, and your average earnings. On average, someone starting their CPP pension in 2021 will receive approximately $8,000 per year in benefits. 

For an estimate of how much you’re eligible to receive, please: 

• log into your My Service Canada Account 
• use the Government of Canada’s online Canadian Retirement Income Calculator  
• request a mailed estimate by contacting Service Canada 

Why am I not eligible for the maximum CPP benefits?

To receive the maximum CPP benefits, you must generally: 

• contribute to CPP for up to 39 years from the age of 18, and
• have an annual salary that meets or exceeds Year’s Maximum Pensionable Earnings (YMPE)* for each year you contribute to CPP 

The amount of CPP benefits you'll receive can also be impacted by factors such as a late entry to the workforce, a gap in your career or early retirement. 

What happens to my CPP benefit when I pass away?

In the event of your death, your eligible spouse or common-law partner may receive the CPP survivor benefit, which is subject to:

• whether your spouse/partner is younger or older than age 65
• the time and amount they’ve contributed to CPP

Making the most of your retirement 

You may also qualify for Old Age Security (OAS) and Guaranteed Income Supplement (GIS) benefits at age 65, which can increase your retirement income. Please visit canada.ca/benefits to learn more. 

When it comes to retirement planning, consider all your retirement income sources and personal circumstances carefully, and obtain estimates before making any decisions. 

We encourage you to visit the Pension Estimator tool on HOOPP Connect for personalized details of your HOOPP pension at different retirement ages. To receive estimates of your CPP benefits, please contact Service Canada. 

Our pension experts are here to help if you have more questions about your CPP, OAS and HOOPP pension benefits. Please contact our Member Services team at 416-646-6445 or
toll-free at 1-877-43HOOPP (46677), Monday through Friday, 8 a.m. to 5 p.m., Eastern Time. 

*Please note the YMPE limit for 2021 is $61,600.