The retirement pension under the Québec Pension Plan
The amount of your pension is calculated on the basis of the employment earnings recorded under your name since 1966, the date on which the Plan started.
You are entitled to your full pension amount if you start collecting it at age 65, however you can start receiving it as early as age 60, but the amount will be reduced by 0.6% for each month of anticipation. This reduction applies permanently. Similarly, if you start collecting your pension at age older than 65, the amount is increased by 0.7% per month of deferment.
If you stop working before age 60, you will have to wait until you turn 60 to start receiving it. If you are age 60 or over, you do not need to have stopped working to receive your retirement pension.
Note that under the Act respecting the Québec Pension Plan, you are considered to be 60 years of age the month following your 60th birthday.
It is important to know that RREGOP is harmonized with QPP, which will have the effect of reducing the RREGOP portion of your pension income when you reach 65. More details here.
Payment of your QPP pension is not automatic. You must file an Application for a Retirement Pension to receive it.