Canadian employees may retire at age 45 and begin drawing a reduced pension from CPP/QPP and other sources such as RRSPs.

Question

Quizplus · Accepted Answer

The standard age to begin drawing a pension from the Canada Pension Plan (CPP) or Quebec Pension Plan (QPP) is 60, not 45, and it comes with a reduction for early retirement. RRSPs can technically be accessed at any age, but there are tax implications to consider.

Canadian Employees May Retire at Age 45 and Begin Drawing