I am 62 and started receiving CPP in January 2023. Now I've…

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As a retiree who has started receiving CPP, you may continue to work and earn income without penalty. However, your CPP benefits may be subject to a tax clawback if your income exceeds a certain threshold. The threshold is based on your net income, which includes your employment income and any other sources of income you have.

If your net income is less than $79,845 in 2023, you will not be subject to a CPP tax clawback. However, if your net income exceeds this threshold, you may have to pay back some of your CPP benefits. The amount of the clawback will depend on your income level.

In terms of canceling your CPP and repaying the benefits, you can only do this if you have not received CPP benefits for more than six months. If you cancel your CPP and repay the benefits, you will be eligible to reapply for CPP at a later date if you meet the eligibility requirements.

Given your salary of $25,000, it is unlikely that you will exceed the CPP tax clawback threshold.