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Is It Smart to Defer Your CPP to Age 70? The Factors to Consider

Canadians who delay their Canada Pension Plan (CPP) payments until age 70 can increase their monthly benefit by up to 42% compared to taking it at 65. For many, the prospect of a larger, inflation-indexed income stream is a powerful incentive, but is this strategy right for everyone, and should you defer CPP to age 70?