Deferring collection to age 70 could pay under proposed changes to CPP

14. October 2009 by Dan Walkow, CFA, CMT.

Heads up for Canadian Pensioners. The rules are changing.

Deferring collection of your Canadian Pension Plan benefits could pay off financially under proposed changes to the CPP rules, but first it’s important to undertake the somewhat morbid task of figuring out how long you expect to live.

The proposed changes, which will begin to be phased in in 2011 if they’re approved by Parliament and the provincial governments, aim to provide retirees and older workers with greater flexibility and more choice.

If implemented, the changes would increase or decrease pension adjustments for people who choose to receive their CPP benefits either earlier or later than the normal collection age of 65. Read full story here.

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