What do the numbers actually say?
| Group | Average retirement age (2025) |
|---|---|
| All Canadians | 65.4 — a 20-year high |
| Public sector | 62.6 |
| Private sector | ~66 |
| Self-employed | 68.4 |
Two decades ago the national average was 61.6. And Canadians aren't just retiring later — more keep working past 65 entirely: labour-force participation among those 65+ reached 15.2% in 2025.
Why is the retirement age climbing?
Longer lifespans mean savings must fund more years. Defined-benefit pensions keep shrinking in the private sector — visible in the 3.4-year gap between public-sector and private-sector retirement ages. Add higher living costs, and later retirement is partly choice, partly necessity. The planning question isn't "what does the average do?" but "what does my own math say?"
The three decisions that matter if you're close
- CPP and OAS timing. CPP at 60 is permanently cut 36% versus 65; waiting to 70 adds 42%. Yet Statistics Canada data shows roughly 4 in 10 of earlier cohorts started at 60 and fewer than 1% wait until 70. Retiring later often strengthens the case for delaying — but it depends on health, taxes and other income. Full breakdown in our CPP & OAS timing guide.
- The bridge plan. Retire at 62 and delay benefits, and you need income from savings for the in-between years. Which accounts fund that bridge — RRSP, TFSA, non-registered — changes your lifetime tax bill.
- The readiness check. Before setting a date, project your income against your spending. Our free 60-second readiness calculator shows the gap, if there is one.
Frequently asked questions
What is the average retirement age in Canada?
65.4 years as of 2025 — a 20-year high. Public sector: ~62.6. Private sector: ~66. Self-employed: 68.4.
Is 60 too early to retire?
Not necessarily — but it means funding roughly 30 years, taking CPP early (−36%) or bridging without it, and no OAS until 65. It works with sufficient savings and a withdrawal plan; run the numbers first.
Does working longer change when I should take CPP?
Often, yes — employment income can fill the years that let CPP grow 8.4% per year past 65. But the right answer is personal: health, spousal benefits and tax brackets all move it.