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GACanada Pension Plan gives you three start dates: 60, 65, or 70.
Most people decide based on the monthly amount.
But the real decision is how much you’ll receive over your lifetime.
Under current CPP rules:
• Starting before 65 reduces your benefit by 0.6% per month
• Waiting after 65 increases it by 0.7% per month
That’s roughly 36% lower at 60, or 42% higher at 70.
But here’s what most people miss.
CPP doesn’t sit alone.
It stacks on top of:
• Employment income
• Company pensions
• Rental income
• Investment income
And that stack determines:
• Your tax bracket
• OAS clawback exposure
• How long your portfolio lasts
• What you actually keep after tax
There is a break-even age where early and late even out.
But the right decision depends on your full income structure — not just the CPP number.
If you want to see how this plays out in your situation, comment CPP below.
I’ll send you the framework to model it properly inside a full retirement income plan.
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Disclaimer: This content is for educational and informational purposes only and does not constitute financial, legal, tax, investment, or other professional advice. The concepts, strategies, and examples discussed are general in nature and may not be suitable for your specific situation. Always consult a licensed professional in your jurisdiction who can assess your individual circumstances before making any decisions.
Past performance or hypothetical illustrations are not guarantees of future results. All investments involve risk, including the potential loss of principal. Any tax-related information is based on current Canadian rules and may change without notice; application and eligibility may vary by province or territory.
This content does not constitute a solicitation to buy or sell any product, security, or service, nor does it endorse any specific provider. Viewers are solely responsible for their own financial decisions and outcomes.
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