It's generally not wise to voluntarily take up to a 36% reduction in income, especially if that income is paid for life. But that's exactly what happens when retirees choose to take CPP at age 60. I'm a big proponent of delaying CPP up to age 70 to help protect against longevity risk and enhance your monthly pension benefit in retirement. Only a small percentage of retirees do so, however, as many prefer to take CPP as soon as they're eligible. Why Take CPP at Age 60? Taking CPP early may not...
