For CPP deferral purposes, life expectancy shouldn’t be measured from birth, says Fred Vettese in his latest chart
People often cite life expectancy as a reason to take Canada Pension Plan benefits early. Two common mistakes are measuring life expectancy from birth and using the wrong mortality table.
For CPP deferral purposes, life expectancy should be measured from age 65 using an updated Canadian Pensioners’ Mortality table rather than rates based on the general Canadian population. A second mistake is to use mortality data applicable broadly to all Canadians rather than mortality rates for people who can afford to defer CPP. This subgroup has larger potential retirement income.
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