In addition, benefits can be split with your spouse. That's good planning, too. You can start taking this pension at age 60, but to qualify you have to stop receiving actively earned income that exceeds the maximum CPP pension amount for two months. Once you've met that criteria, you can resume your employment or work activities as usual.
With the exception of withdrawals from the Tax-Free Savings Account, tapping into income from non-registered investments requires tax reporting. So you'll want to avoid this and use other methods of funding your needs. The following summary provides a review of income and assets available for retirement income planning, together with comments on their tax-efficiency rating:
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