{"id":1912,"date":"2025-11-25T10:32:00","date_gmt":"2025-11-25T15:32:00","guid":{"rendered":"https:\/\/qa.yourwebsitebuild.com\/nia\/?p=1912"},"modified":"2025-12-02T10:34:23","modified_gmt":"2025-12-02T15:34:23","slug":"close-to-retirement-with-no-savings-heres-how-you-can-get-up-to-42-more-a-month-out-of-cpp","status":"publish","type":"post","link":"https:\/\/qa.yourwebsitebuild.com\/nia\/close-to-retirement-with-no-savings-heres-how-you-can-get-up-to-42-more-a-month-out-of-cpp\/","title":{"rendered":"Close to retirement with no savings? Here\u2019s how you can get up to 42% more a month out of CPP"},"content":{"rendered":"\n

Deferring your CPP payments means you\u2019ll receive more each month when you do begin to take it. \u201cThe first thing people should do if they\u2019re getting ready for retirement is to figure out ways to delay their CPP so they can get this really low cost, high-quality pension plan,\u201d says Bonnie-Jeanne MacDonald, director of financial security research at the National Institute on Ageing at Toronto Metropolitan University.<\/p>\n\n\n\n

As of April, the average CPP pension payment at age 65 was $844.53 per month. If you wait, you can almost double your monthly payment between age 60 and age 70, MacDonald says. After 65, your payments increase by 0.7 per cent each month, up to 42 per cent at age 70. \u201cDelaying your CPP is an incredibly valuable opportunity because it\u2019s the only pension plan that anyone has access to that will actually increase with inflation and will continue until you pass, so you won\u2019t run out of money,\u201d MacDonald explains. She adds that if someone delays CPP to 70 from 60, considering the average life expectancy, they\u2019ll get $100,000 more money.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Deferring your CPP payments means you\u2019ll receive more each month when you do begin to take it. \u201cThe first thing people should do if they\u2019re getting ready for retirement is to figure out ways to delay their CPP so they can get this really low cost, high-quality pension plan,\u201d says Bonnie-Jeanne MacDonald, director of financial […]<\/p>\n","protected":false},"author":2,"featured_media":1789,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"image":"\"Toronto","link":"https:\/\/qa.yourwebsitebuild.com\/nia\/close-to-retirement-with-no-savings-heres-how-you-can-get-up-to-42-more-a-month-out-of-cpp\/","target":"","category":"

Income Adequacy<\/div>","date_formatted":"November 25, 2025"},"category":[5,6],"tags":[],"stake-holder":[16,15],"class_list":["post-1912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-adequacy","category-pensions","stake-holder-older-adult","stake-holder-sector-organizations"],"acf":[],"yoast_head":"\nClose to retirement with no savings? Here\u2019s how you can get up to 42% more a month out of CPP - NIA<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Close to retirement with no savings? Here\u2019s how you can get up to 42% more a month out of CPP - NIA\" \/>\n<meta property=\"og:description\" content=\"Deferring your CPP payments means you\u2019ll receive more each month when you do begin to take it. \u201cThe first thing people should do if they\u2019re getting ready for retirement is to figure out ways to delay their CPP so they can get this really low cost, high-quality pension plan,\u201d says Bonnie-Jeanne MacDonald, director of financial […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/qa.yourwebsitebuild.com\/nia\/close-to-retirement-with-no-savings-heres-how-you-can-get-up-to-42-more-a-month-out-of-cpp\/\" \/>\n<meta property=\"og:site_name\" content=\"NIA\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-25T15:32:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-02T15:34:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/qa.yourwebsitebuild.com\/nia\/wp-content\/uploads\/2025\/01\/Toronto-Star-Logo.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"rwarnock\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rwarnock\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/qa.yourwebsitebuild.com\/nia\/close-to-retirement-with-no-savings-heres-how-you-can-get-up-to-42-more-a-month-out-of-cpp\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/qa.yourwebsitebuild.com\/nia\/close-to-retirement-with-no-savings-heres-how-you-can-get-up-to-42-more-a-month-out-of-cpp\/\"},\"author\":{\"name\":\"rwarnock\",\"@id\":\"https:\/\/qa.yourwebsitebuild.com\/nia\/#\/schema\/person\/acf3da66434650b2b07a8d43899ec958\"},\"headline\":\"Close to retirement with no savings? 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