Retirement

There are few personal finance decisions more difficult or complex than the choice between taking a deferred pension in retirement or a lump sum (commuted) value today. It’s a choice many Canadians face each year if they leave a job with a defined benefit pension plan. (If you have a defined contribution pension plan, there’s…

I’ve long advocated that anyone who expects to live a long life should consider deferring their Canada Pension Plan to age 70. Doing so can increase your CPP payments by nearly 50 percent – an income stream that is both inflation-protected and payable for life. If taking CPP at 70 is such a good idea,…