Is it worth delaying CPP to 70?

If you expect a long life and can cover the gap years from savings, usually yes — CPP grows 0.7% for every month you delay past 65, a permanent 42% increase at 70, fully indexed to inflation. The breakeven versus starting at 65 is typically around age 74–76.

What is a CPP bridge?

A CPP bridge is deliberately spending down your own savings (RRSP, non-registered, TFSA) in your 60s so you can postpone starting CPP — trading a portion of your portfolio for a much larger, guaranteed government pension later.

The bridging strategy: living off savings to delay CPP to 70

Delaying CPP is one of the most powerful — and most underused — retirement moves available to Canadians. Waiting from 65 to 70 increases your CPP by 42% for life, fully indexed to inflation. The catch: you need income to live on during the gap years. That's what "bridging" solves.

The trade you're actually making

Bridging means spending your own savings first so you can postpone CPP. You're effectively buying a bigger, guaranteed, inflation-protected pension by drawing down a portfolio that would otherwise carry market risk. For people worried about outliving their money, that's an attractive swap.

When bridging makes sense

You expect a long life. The longer you live past the ~74–76 breakeven, the more delaying wins.
You have RRSP/savings to spend in your 60s. These years are also ideal for an RRSP meltdown at low tax rates.
You want longevity insurance. A larger CPP means less of your late-retirement income depends on markets — a direct defence against sequence-of-returns risk.

When it doesn't

Poor health or family history of shorter lifespans tilts toward taking CPP earlier.
Little savings to bridge with — if drawing down would leave you fragile, the guaranteed early income may matter more.
You need the money now. A bird in the hand has value too.

Run the breakeven for your numbers

The general rule is helpful, but your health, savings and tax situation move the answer. Compare starting CPP at 60, 65 and 70 side by side and watch how the bridge affects your portfolio and lifetime income.