July 29, 2020 – Investment Executive
Most clients should wait to claim CPP payments: report
By: Michelle Schriver
Should your client delay claiming their Canada Pension Plan (CPP) payments? A new report commissioned by the Canadian Institute of Actuaries (CIA) and the Society of Actuaries provides insight to help answer that question. The CPP Take-Up Decision investigated the financial consequences of delaying CPP payments for five years by looking at workers retiring at age 65 who had sufficient savings to begin drawing CPP pension income at age 70 instead.