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CPP is Crucial for Most Canadians


The Canada Pension Plan (CPP) is crucial for many Canadian’s successful retirement years. Most Canadians do not have an indexed pension plan, one that keeps pace with inflation. CPP does. This is very important if you live a long life or you have a surviving spouse who qualifies for your survivor CPP. The longer you delay your CPP payments, the greater they will be. For example, delaying CPP to age 65 means you will have a 30% greater payment than age 60 and delaying to age 70 means still another 30% higher than age 65. You receive 6% less per year if you start it earlier than age 65 and you receive a 6% more per year after 65. Twice per year, CPP increases with inflation! Women in particular, should be careful when they decide to start their CPP payments since they on average outlive men by 5 years. Therefore, it is very helpful to have a more robust CPP payment.


If you realize with your financial planner, there is concern you may outlive your savings in your retirement years, consider delaying your CPP, especially those who do not have a decent pension plan. For more information, contact us;

wiltshirefinancial.ca or 902-404-8410

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