If u begin collecting at 60, you'd have received 37,800 cad at present value. If you collect at 70, 5 years later, the payment would increase from 630 to 930.

From year 70 to end of year 79.3, you officially broke even from when the payments u collected from age 60-65. So once you hit age 79.3, every month after you're making extra 300 bucks. Win!!!!

But wait. We need to factor in the inflation for 9.3 years. So the extra 300 is actually less. Wait again! If your collected total of 37,800 were not blown on random stuff, and instead u saved them in ur tfsa or just regular account, you'd be compounding your 37,800 from age 60-79.3!!! So now...in reality, you'd need to live till probably sometime past 85 to 90 in order for the extra 300 bucks per month to be worth it.

I'm no mathetician but unless you have zero savings and absolutely count on that extra 300 bucks from age 70 to survive, take ur cpp now.