July 30, 2020 – Benefits Canada

New report highlights financial considerations of delaying CPP payments

A retiree faces a 50 per cent probability of receiving more income by delaying Canada Pension Plan payments, according to a new report by the Canadian Institute of Actuaries and the Society of Actuaries.

The report, authored by Bonnie-Jeanne MacDonald, director of financial security research at Ryerson University’s National Institute on Ageing, investigated the financial considerations of delaying CPP payments and looked at the risks and opportunities associated with the delay.

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