I don't get it. Maybe I look at things too simplistically. Forget income taxes. Forget inflation. Look at cash on cash. Maximum CPP benefit right now at age 65 is about $1,100 per month. If you take the cash now, by the time you turn 71 you will have received about $80,000 (leaving out inflation adjustment). If you wait to age 71 to draw CPP, you will get 50% more or an additional $550 per month. At that rate, looks to me like break even is about 145 months or 12 years. Isn't 83 life expectancy these days? Seems to me in this case sooner is better than later. Sorry, Fred, but I think you are dead wrong.