The two choices
| Continue contributing | Stop contributing | |
|---|---|---|
| CPP already received | $1,032/month | $1,032/month |
| Employment income | $122,000/year | $122,000/year |
| 2026 employee CPP | $4,646.45 | $0 after election |
| Employer CPP | $4,646.45 | $0 after election |
| New PRB | Yes, normally in 2027 | No |
The employee contribution comprises $4,230.45 of regular CPP plus $416 of additional upper-band CPP (sometimes called CPP2). CPP2 is not a separate cheque.
Option 1: continue for one year
You keep receiving existing CPP while $4,646.45 is deducted from employment income. Using the published 2026 maximum PRB at age 65—$54.69 per month—only as a benchmark, combined CPP could be about $1,086.69 per month before tax and future indexing. Service Canada determines the actual 2027 PRB.
| Employment income | Employee CPP | Illustrative PRB | Illustrative CPP after PRB |
|---|---|---|---|
| $20,000 | $981.75 | $12.69 | $1,044.69 |
| $40,000 | $2,171.75 | $28.08 | $1,060.08 |
| $60,000 | $3,361.75 | $43.46 | $1,075.46 |
| $74,600 | $4,230.45 | $54.69 | $1,086.69 |
| $85,000 or $122,000 | $4,646.45 | $54.69 | $1,086.69 |
This simplified table estimates PRB proportionally up to $74,600 and does not separately assign a PRB amount to upper-band contributions. Enhancement rules, indexing, age, and the applicable 2027 rate may change the result.
Option 2: stop at 65
You keep receiving the existing $1,032 monthly CPP and keep working, but stop deductions after the election takes effect. At the maximum contribution level, near-term cash flow improves by up to $4,646.45 for a full year, but no PRB is earned for that period.
An employee age 65 to under 70 who is already receiving CPP generally completes CRA Form CPT30, gives a copy to the employer, and sends the original to CRA. Contributions stop automatically at 70.
Simple break-even
An illustrative $54.69 monthly PRB equals $656.28 annually. Dividing the $4,646.45 contribution by $656.28 gives a before-tax break-even of about 7.1 years after the PRB begins—roughly age 73 if it begins around 66.
Official sources to confirm
The $54.69 PRB is a published 2026 benchmark, not a guaranteed 2027 amount. Confirm your estimate through My Service Canada Account or Service Canada before electing.