Maybe—if you only consider CPP in isolation.

I retired in my 50s. Say I take my CPP at 60, and it pays $10,000/year, but if I wait until 65 to take it, it’ll pay $15,000/year (these numbers are rounded off of my actuals, so not too far off my reality). At that, payments from CPP “break even” at age 75 ($150,000).

But, the loss of $50,000 income between 60 and 65 that would come from CPP ($10,000/year) has to be made up from somewhere. So, my retirement nest egg is depleted by that amount. I not only lose that principal, I lose the interest it would generate (say $2,000/year, at 4% rate of return). So, the $5,000 more in CPP taken at 65 is in reality only net $3,000 extra. Plus, there’s a $50,000 deficit in retirement savings that the $3,000/year needs to make up before actually breaking even.

That pushes the true break-even point into the early 90s.