CPP (Canada Pension Plan)
Definition
Canada's contributory public pension. You can start it between ages 60 and 70; payments are permanently reduced by 0.6% per month if you start before 65 and increased by 0.7% per month if you delay past 65.
Example
Starting at 60 means a 36% smaller payment than at 65; waiting until 70 means a 42% larger one.
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General educational information, not personal financial advice. See our disclaimer.
