Bifalgorithm post

If you are receiving a survivor benefit as part of your retirement and you go to collect CPP, a really common misunderstanding is that if you're already getting the max out of CPP because of the survivor benefit, you might as well take it at 60. Now, what people often don't understand is that the maximum you can receive combined Canada Pension Plan and survivor benefit actually increases just like your regular CPP would increase if you defer from age 60 to 65 and it will increase even more if you defer from age 65 to 70. So if you're collecting survivor benefit and CPP don't just assume that whatever your max is at 60 is also your max at 65. [BLANK_AUDIO]

If you are receiving a survivor benefit as part of your retirement and you go to collect CPP, a really common misunderstanding is that if you're already gettin…

Ideas in this flowchart

  • Survivor Benefit and CPP Collection
  • Common Misunderstanding
  • Maximum CPP at Age 60
  • Increase with Deferral
  • Deferral from 60 to 65
  • Deferral from 65 to 70
  • Combined Benefit Increase
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If you are receiving a survivor benefit as part of your retirement and you go to collect CPP, a really common misunderstanding is that if you're already getting the max out of CPP because of the survivor benefit, you might as well take it at 60. Now, what people often don't understand is that the maximum you can receive combined Canada Pension Plan and survivor benefit actually increases just like your regular CPP would increase if you defer from age 60 to 65 and it will increase even more if you defer from age 65 to 70. So if you're collecting survivor benefit and CPP don't just assume that whatever your max is at 60 is also your max at 65. [BLANK_AUDIO]

C
Catherine Cloutier
10w

"you might as well take it at 60. Now, what people"

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