You are65- years oldand considering retiring and drawing your Canadian Pension Plan (CPP) benefits. Assume you have contributed themaximumfor a total of40 years, since you started working atage 25. Now, you have been told that you can delay that start of your benefits by five years to the age of70, in which case your benefits will increase by42%.Assume that real (inflation-adjusted) interest rates are2%,and that you are absolutely certain that you willonlylive to theage of 85. Which is the better option for you?

Answer rating: 100% (QA)

The better option for you would be to delay the start of your Can... View the full answer