How to double your CPP income.

A new analysis from the National Institute on Ageing suggests that delaying Canada Pension Plan (CPP) payments until age 70 can more than double monthly benefits. This strategy provides a hedge against inflation and longevity, as the longer you live, the more likely inflation will impact your retirement income. However, not everyone agrees with this approach, as some argue that the increase in benefits may not be as significant as it seems and that deferring CPP may not be financially feasible for everyone. It is important for individuals to consider their own financial situation and life expectancy when deciding when to start receiving CPP payments. [Extracted from the article]