5 Reasons To Start Collecting CPP At 65 | Canada Pension Plan Explained

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Episode One:    • When Should You Start Collecting CPP?...  
Episode Two:    • Calculating CPP's Break Even Point | ...  
Episode Three:    • 5 Reasons To Start Collecting CPP At ...  
Episode Five:    • 5 Reasons To Start Collecting CPP At ...  

Taking your CPP at age 65 is the most common because it's sort of the default retirement age for most people. Here are 5 reasons why you'll want to start collecting CPP payments at 65.

1) You are retiring at age 65 and you require your CPP income to help replace your employment income.

2) You had a bridge benefit on your pension stop at age 65 and need CPP income to replace this.

3) You have done other income and tax planning from retirement (if you retired before age 65) to age 65 and determined 65 is the best time to start your CPP

4) You prefer to draw as much income earlier in retirement to allow more cash flow now while you are healthy and able to travel and enjoy the money

5) You used your RRSP income to fund retirement between 60-65 and now your RRSP is running lower – and your CPP will replace that income.

OAS Clawback: https://www.canada.ca/en/services/ben...

CPP Benefits: https://www.canada.ca/en/services/ben...

CPP Break Even Calculator: https://www.taxtips.ca/calculators/cp...

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