CPP Past 65
Learn about CPP benefits and optimization strategies after age 65.
Why Would I Defer My CPP Past Age 65?
Deciding when to start collecting your Canada Pension Plan (CPP) benefits is one of the most crucial retirement decisions you'll make. While age 65 is often seen as the standard starting point, deferring your CPP could significantly impact your financial well-being during retirement.
But why defer? The decision isn't as simple as it seems.
The Timing Dilemma
When you take your CPP benefits directly affects the amount you'll receive monthly for the rest of your life. If you start at 65, you receive your full eligible amount. However, for each year you delay, your monthly payment increases by 8.4% until age 70, potentially giving you up to 42% more.
While this seems straightforward, the best time to start depends on various factors: your life expectancy, other retirement income sources, tax implications, your retirement goals, and lifestyle needs.
How Optiml™ Helps You Make the Right Choice
Optiml™ takes the guesswork out of this decision. Our proprietary software is designed to test every possible scenario, analyzing the impact of taking CPP at each age from 60 to 70.
No more worrying about whether you're leaving money on the table or taking unnecessary risks. Optiml™ empowers you with clear, actionable insights to make the best decision for your future.
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