Yes, there is a difference for people who have pensions. Give caution to taking CPP before 65 or you will bust the Bridge. The Bridge is calculated to 65, so if you take CPP earlier than 65 you will create a lesser integrated amount (CPP+ Pension) than you would by delaying CPP to 65. Of course, OAS could make up the difference. Make sure you know the math and it works for you before you start drawing CPP. I don't think people with pensions benefit much by taking CPP later than 65. You have to check whether delaying past 65 would also start hitting the Old Age Tax Credit. Lots of variables, least of all is quality of life at earlier stages and what more money then can do for the retiree.