text: I don't think that there is a lot of mystery about the reluctance to defer CPP.
  
  Most people have weak backgrounds in math, stats and finance, and can't manage cash flow. -)
  
  My wife and I found a bargain assumable 16% 1st mortgage in 1982 and paid if off in 5 years and  9 months.
  
  Getting a smaller amount of cash earlier has a strong attraction for people who have poor impulse control. Like getting a lump sump payout of pension contributions, rather than waiting to collect a pension. 
  
  One guy who was "Work Force Adjusted" told our employer not to withhold any tax, saying that he would be able to counter it with other things on his Income Tax. At Income Tax time he had nothing left to pay taxes, or to contribute to a Tax Deferred or Sheltered Investment and expected Tax Advisers to invent an excuse not to pay. I read all the details and learned that I had a once in life time chance to make an extra K$38 Retiring Allowance RRSP contribution, so I did. Cut the tax bite on my severance.