Self-employed with no pension Aug 16th
CPP payment dates this year, and more to know about the Canada Pension Plan + MORE Aug 30th
Single, no pension? Here’s how to plan for retirement in Canada Jul 4th
Can you delay a RRIF withdrawal? Jun 6th
Should you hold gold in a RRIF? + MORE Aug 9th
How to double your CPP income
– moneysense.ca
As I reported on my own site, when an introduction and overview was released on April 11, the delayed-gratification strategy can more than double ultimate monthly benefits: in fact they may be a whopping 2.2 times more when started at 70 compared to the opposite tactic of taking them as early possible at age 60. Similar dynamics are at play with Old Age Security, but less dramatic because the earliest you can take OAS is the traditional retirement age of 65.
This month’s Retired Money column looks in more detail at two related benefits from postponing CPP as late as possible: it provides a greater hedge against continued inflation, and provides an annuity-like longevity hedge against outliving your money. These two are intimately linked, of course, since the longer you live, the more pernicious long-term inflation is likely to be…