This retirement decision could be worth $72,000, but few Canadians take advantage of it

What would you rather have: a bag of money with $20,000 in it or a bag with $25,000? It seems like a silly question but the debate about when to start CPP pension boils down to a question just like it. Is it better to start CPP at 60 or 65 or even 70? The usual answer from industry experts tends to be the highly unsatisfactory “it depends.” Fortunately, actuarial science gives us the tools to do better. This article may be the one and only time you will see a definitive answer to this question though we do admit it depends on one’s earnings history.

Read more on the Financial Post.

Article by Lisa Bjornson, Actuarial Associate with Morneau Shepell, and by Fred Vettese, Chief Actuary with Morneau Shepell.