| In Canada ... I can apply to begin to collect on my (contributory) Canada Pension Plan at any time past age 60 - with benefit reduced by 1% for each two months that I apply prior to age 65, or 6% per year, or 30% if I begin to receive just after 60th birthday. I must claim that I am "substantially retired" on my application. But - I can go back to work the next day, if I choose. Should I choose to continue working, and contributing, to the plan past age 65, they add 1% of additional benefit for every two months worked past 65. Once I begin to collect, no more deductions are taken out of my paycheques earned after that time. A number of financial advisers recommend that members begin to collect as early as possible after age 60. If one needs the income, there's little choice. The person who has a choice is thus able to invest a good portion of the benefit received. Under usual circumstances, many say that, should the person die prior to around age 80, they were ahead to request initiation of benefits early. If, however, the earner has studied a number of the parameters of the use of money, thus enabling receiving a better than average rate of return, or developing tax-reduction strategies, thus developing above average rate of after-tax return, it may be possible to push one's break-even point to the high 80's, possibly 90's, or even age 100. Most of us are dead before that time. Learning how money works - an interesting hobby. That pays well! Good wishes to you all. joyful guy | 
