July 30, 2020 – Wealth Professional
Should more Canadians put off taking CPP payments?
By Leo Almazora
Prepared by the Canadian Institute of Actuaries (CIA) and the Society of Actuaries, the report titled The CPP Take-Up Decision focused on workers retiring at age 65 with plans to use some portion of their RRSP or RRIF savings to augment their retirement consumption. It relied on an analytical framework that compares two financial strategy options which differ only in the timing of the choice to take CPP.