Skip to main content

Canadians are encouraged to delay receiving their Canada Pension Plan or Quebec Pension Plan benefits until age 70 to get the maximum payout later in life. Still, research shows less than 1 per cent do. Canadians most commonly take their CPP/QPP benefits as soon as they are eligible, at age 60.

Why don’t more Canadians wait, especially given the financial incentive? Some need the income immediately to make ends meet or worry they won’t live long enough to take advantage of the benefits they contributed to during their working years. It’s not an easy decision, especially considering Canadians are living longer compared to when the CPP and QPP were first introduced in 1966.

The Globe is interested in talking to Canadians about when they started taking their CPP/QPP benefits, and why they started then. Was it the right decision in hindsight? Would waiting longer have been beneficial? Should they have started sooner?

Take our survey below or at this link. We’ll report on the responses and interview a handful of Canadians who took their CPP/QPP benefits at various ages between 60 and 70. Their insights could help the next generation decide when to start taking theirs.

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe