New Insights from NIA Reveal Strategies to Help Canadians Secure Greater Retirement Income by Overcoming Early Claiming Biases
Steps 5 and 6 of the eight-part paper series, Improving Long-term Financial Decision-making by Bridging the Psychological Divide Between Today and Tomorrow, delve into the psychological factors that often prompt Canadians to start their pension benefits earlier than necessary: a choice that can significantly reduce their financial security in later years. Building on previous report findings, this segment offers practical strategies to help retirees overcome these factors and make informed decisions about delaying benefits, ultimately enabling them to secure larger, inflation-protected incomes throughout their retirement.
