Updated for 2023: As your clients approach retirement, they’ll need to sort out when to start collecting retirement benefits. While Canadians can start collecting their Canada Pension Plan between the ages of 60 and 70, the longer they wait for CPP, the more they’ll get. Taking CPP Early or Late infographic highlights considerations to help clients decide when to take their Canada Pension Plan.
There are several factors to consider before making any decisions including: retirement income needs and sources, length of retirement, and taxation.
How do you make sure you’re getting the most out of CPP? It all comes down to timing.
Collecting Canada Pension Plan benefits sooner means taking a little less now instead of waiting for more later. But everyone’s financial situation is different and this infographic will help start those conversations.
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