# CPP: Sooner, or Later?



## WealthBar (Oct 12, 2017)

One question that often comes up about CPP benefits is whether to take it earlier or later. If you Google this, you’ll get different answers: some say take it early, others say take it later. It seems the experts don’t quite agree, so I wanted to do a thorough analysis myself.

Now, before I dive into the analysis, let me quickly explain how taking CPP earlier, or later, works. Assuming you will be age 60 after 2016, the CPP early and late withdrawal rules work like this:


If you take CPP before 65, you take a 7.2% penalty per year on your CPP payments (up to 36% at age 60)
For each year you wait after 65, you gain an 8.4% increase in your CPP payments (up to 42% at age 70)
On face value, 42% more does seem like a pretty compelling case for waiting, but, is it? The catch here is that, it will depend on how long you live. Will you live long enough to capitalize on the larger payments, if you wait to start taking CPP? The real question is: Are you, statistically speaking, going to receive more, or less, total CPP by waiting?

Find out here

Presented by WealthBar. Providing Canadians with low cost online investing and financial advice. Specializing in retirement income planning.


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## OnlyMyOpinion (Sep 1, 2013)

The discussion you reference is too simplistic. 
Recommending that you should defer CPP and spend down yourTSFA and other savings first is poor advice because it ignores the uniqueness of every individual's situation. 
The amount and type of your other sources of retirement income, your desire/or not to leave an estate, your marital status, your health, history of family health, planned retirement lifestyle/activites, etc. all need to be part of your consideration.

This post is just SPAM. 
This post is just ADVERTISING.

Go away Nutbar.


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## Eder (Feb 16, 2011)

I agree...CPP dies with you..a nice investment/rrsp/tsfa lives forever. Pensions are overrated.


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## naysmitj (Sep 16, 2014)

Where is the report button for SPAM LURE to ADVERTISING


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## Beaver101 (Nov 14, 2011)

^ That little triangle on your lower left, right beneath your user ID/Posts: 104 .... but I'm not sure if this reporting is going to work given it's a "site sponsor" + paid advertiser. 

Setting aside a marketing company/advertiser disguised as a forum participant, the write up in its first post seems plagarized or does it indeed have affiliation with the RetireHappy.ca site?


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## Retired Peasant (Apr 22, 2013)

Why was this made a 'sticky'?


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