Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
wal0149
New Member

I'm 65 but still working part time and still paying into the CPP. Should I elect to stop or will this affect the amount that I receive?

 
1 Reply

I'm 65 but still working part time and still paying into the CPP. Should I elect to stop or will this affect the amount that I receive?

As long as you keep contributing to your CPP, you'll will increase your retirement income when you stop working. Also, if you have an employer, then they have have to keep making their portion of the CPP contributions.

 

However, depending on your situation, the benefit you get from continuing to contribute might not be worth the amount that you lose on your income now, especially if you are self-employed. So, I would recommend speaking with someone who is knowledgeable in the subject to help you decide if you should stop or not.