I'm a CPP expert. Any questions? - Page 45
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Thread: I'm a CPP expert. Any questions?

  1. #441
    Senior Member
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    I tried online but had problems. Maybe I will find a service canada place in the next while.


  2. #442
    Senior Member
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    Dec 2012
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    Quote Originally Posted by Mechanic View Post
    Where can a person find out what they are entitled to at age 60 or age 65 ? We actually retired in 2011 at age 55 but now we are turned 60 so curious about this.
    I agree with heyjude that the Service Canada website is a good starting point, but there are some issues with their online estimates. Read this article: https://retirehappy.ca/understanding...ributions-soc/
    Accurate CPP estimates at Hidden Content or by email to Hidden Content

  3. #443
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    A few things I have read. plus comments from friends suggest that we should take it now we have turned 60, even though we don`t actually need the funds at this time.

  4. #444
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    Quote Originally Posted by Mechanic View Post
    A few things I have read. plus comments from friends suggest that we should take it now we have turned 60, even though we don`t actually need the funds at this time.
    I think the stock advice is to grab it and run as soon as you can. I think any actuary will tell you that. I too am past 60 and plan to defer to age 70. But I know I might never make it to 70 and an actuary will tell you that to recoup what you gave up in the deferred years means you'll have to live to about 100 to break even. Both my parents recently got to about that age, maybe I'll get lucky!

    Like you, I have no need of the funds now and I'll probably work to age 70 or so if I do survive. That being so, my CPP would now be taxed at the highest marginal rate. I'd rather wait. As well, I just like the psychological lift from receiving a bigger cheque. I'll never be allowed to collect a dime of OAS, so I might as well give my CPP a boost. Mind you, I expect Trudeau and his elves in Ottawa to claw back CPP pretty soon. So am I making an egregious financial planning error? Indubitably. Do I care? Not a whit! I can afford to indulge in a bit of foolishness.

  5. #445
    Senior Member heyjude's Avatar
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    May 2009
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    Quote Originally Posted by Mukhang pera View Post
    Correct info, but, unless things have changed lately, to get personalized info from that site you'll have to request a "Personal Access Code" and wait for it to come in the mail. That's what I had to do in August 2013.
    Yes, I should have pointed that out; however, it is explained on the site.


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