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If you're under age 65 and you're thinking about starting your CPP in January 2015, you may want to consider starting it in December 2014 instead. That's because the age-adjustment factor increases from 0.56% per month in 2014 to 0.58% per month in 2015. For some people, that means that by waiting that one extra month your monthly CPP will actually be less, plus you will have missed out on one month's pension.

Here's a link to an article that I wrote on the subject: http://retirehappy.ca/best-month-to-start-cpp/

The actual impact on anyone's CPP won't be known until both the 2015 YMPE is announced, and the 2015 escalation factor is announced for CPP pensions starting in 2014. Assuming those two escalation factors will be similar though, you'll really want to take a close look at your own situation.
 

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This was my experience. The CPP CSR provided the numbers on the phone. As I recall, Iwas ahead by six dollars a month and of course by the extra payment.
 
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