March 8, 2017: Wondering when to collect CPP or OAS? Depends on if you have an employer pension, RRSP, TFSA, non registered investments, plan to work part time or retire completely. Taking CPP early at 60 will reduce it, waiting until 70 (with or without additional employee/employer contributions) will increase your lifetime benefits. Deferring OAS until age 70 will also increase your benefit. CPP and OAS are inflation-indexed which is important if you don’t have an inflation-indexed pension. OAS claw back and other tax considerations should be reviewed with your tax or financial advisor before deciding what makes sense for your specific situation.