The Government of Canada will gradually introduce
changes to the Canadian Pension Plan (CPP) from 2011-
Before the changes, your CPP retirement pension increased
by 0.5% for each month after age 65 (and up to age 70)
that you delayed receiving it. This meant that, if you
started receiving your CPP pension at 70, your pension
amount was 30% more than it would have been if you had
taken it at 65.
For 2011 to 2013, the Government of Canada will gradually
increase this percentage from 0.5% per month (6% per year)
to 0.7% per month (8.4% per year). This means that, by
2013, if you start receiving your CPP Pension at the age
of 70, your pension amount will be 42% more than it would
have been if...