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Posthaste: Canadians who take CPP at 60 lose $100,000 in retirement income, study finds


Good Morning!
Good things come to those who wait, they say. And that may be particularly true when it comes to retirement.
The average Canadian who takes Canada Pension Plan benefits at age 60 rather than 70 can expect to lose more than $100,000 of income over the course of their retirement, according to the Lifetime Loss calculation in research by Bonnie-Jeanne MacDonald for Ryerson’s National Institute on Ageing and the FP Canada Research Foundation.
Even delaying the benefits by one year from 60 to 61 helps. “Based on the official age-adjustment factors alone, a one-year delay is equivalent to investing a single year’s CPP/QPP benefit at age 60 and getting a lifetime pension income of 11.25% of that initial investment, indexed by inflation year after year,” the study says. ....

Rrsps Rrifs , Bonnie Jeanne Macdonald , Fp Canada Research Foundation , Ryerson National Institute On , Canada Pension Plan , Lifetime Loss , National Institute , போனி ஜீன் மெக்டொனால்ட் , ஃப்ப் கனடா ஆராய்ச்சி அடித்தளம் , ரைர்சன் தேசிய நிறுவனம் ஆன் , கனடா ஓய்வூதியம் திட்டம் , வாழ்நாள் இழப்பு , தேசிய நிறுவனம் ,