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Ottawa discourages taking early CPP

24596 Views 23 Replies 14 Participants Last post by  OhGreatGuru

Looks like those who opt for early CPP at 60 get benefit reduction of 36% instead of 30%. Waiting till 70 means 42% bump up compared to previous 30%.

Guess they want to keep us weary boomers in harness till we drop!
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well well well, just as most of us were told that the CPP is well and sound for the next few decades, here comes the change in rules...

in time, i wonder if this will also affect all the DB plans that are integrated with CPP - i.e. the bridge benefit one receives before 65 (usually 55-65) for most of the public sector pensions may change as a result...

on the note of break-even point of taking CPP early - 77 was the magic age we concluded in a pension seminar i attended, that is before all this is happening of course.
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