FAQ: Can I Input CPP Estimates Instead of the Year-By-Year CRA Data?

Yes, you can, but the estimate from service Canada can be misleading, especially if you're a number of years away from retirement.

One of the downsides with the Service Canada CPP estimate is that they assume that you keep working at your same average earnings until age 65, or 70. Secondly, if you're quite a few years from retirement, the estimate from Service Canada does not include CPP enhancement, which can be a huge factor.

By using the year-by-year CRA data your estimate on the platform will be dynamic and change with the other assumptions you include in your plan.

If you'd still like to enter in an estimate you can do so by selecting Simple Mode in the Tax and Benefits Section.

Add a Simple CPP Benefit Amount:

Select the Simple toggle in the left hand corner of the Tax and Benefits Section.

Once you do, you'll be able to add a monthly CPP estimate in Today's $s. This will force the platform to use this value. It will not take into account any future income.