what is the maximum cpp benefit

The maximum Canada Pension Plan (CPP) benefit changes every year and depends on several factors, including how much and for how long you contributed to the CPP and your average earnings throughout your working life. For 2023, the maximum monthly amount you could receive if you start your pension at age 65 is $1,306.57. To receive the maximum CPP payment, you need to have made the maximum CPP contribution each year for at least 39 years. However, not everyone gets the maximum CPP payment, and the average CPP in October 2022 was $717.15 per month. The amount you receive from CPP depends on your situation and contributions, and you can ask Service Canada for your CPP statement of contributions to get a better idea of how much youll receive.