Combined Survivors and Retirement benefit increase when delaying CPP
I asked a question yesterday on the stress test your plan case study webinar. Maybe I misunderstood the response or asked the question incorrectly. The way I understood the response was the combined survivor retirement max benefit doesn't increase when a survivor delays to age 70. This was contradictory to an article I read so went back to find that article. The article seems to suggest the max amount level would increase by the same 42% if survivor delayed their start. I do get the actual calculation of the survivor benefit is calculated against age 65 benefit amounts but my question was more around the max amount limit increasing so you don't lose more survivor benefit just because survivor delayed their start to 70.
Can you confirm the article response below is accurate?
Here is the article link and specific section of that article I was trying to confirm:
Can you tell me what the CPP maximum combined survivor and retirement pension is if the deceased or the survivor starts collecting at 70? Also, what is the impact if both spouses are over 65 and neither is collecting when one of them passes away?
The 2024 maximum combined survivor’s and retirement pension, as shown on the Service Canada website, is $1,375.41. This limit is for a surviving spouse who starts their own retirement pension at 65. If the surviving spouse defers their CPP benefits until 70, this limit is increased by 42 per cent. If both spouses are over 65, and neither is collecting the CPP when one of them passes away, the surviving spouse’s combined survivor and retirement pension will be subject to the maximum limit at that time, after taking into account the 0.7 per cent per month increase that applies by deferring the start of the retirement pension after 65.