-$13,610 max CPP
-Current YMPE $55,900
-Max CPP = ~24% of current YMPE (25% of last 5 years’ avg YMPE, similar to how many DB formulas work)
So, indeed, if you earned YMPE every year, your return is comparable to a DB accrual of ~0.62% per year times 39 years, though the full math will vary depending on the length of your working career and your age of retirement. But that’s on a pension with 4.95%/4.95% contribution rates. “2% per year of service” DB pensions are actually ~1.35% regular benefit and ~0.65% bridge benefit up to the YMPE. They also have contribution rates pushing double digits on either side (~18%+ combined). So DB plans are double the contribution for double the pension. In other words, CPP is proportionate to most DB plans, with the caveat of age 65 for an unreduced pension vs 60 or even 55.