False. The age at which a person chooses to begin receiving a retirement pension under the
QPP will have an impact on the amount of the pension for
the rest of his or her life.
For example, a person who applies for a retirement pension before age 65 will see the amount decreased by 0.5% to 0.6% for each month between the starting date of the retirement pension and his or her 65th birthday. The reduction can reach 36% and will apply for as long as the pension is paid. Therefore, before applying, you must ensure that your income under the QPP, the Old Age Security program, and personal savings and pension funds, if any, will be sufficient to maintain your expected standard of living during retirement.