@mtainmn43 The RRSP seems much better for early retirement than for retirement at 65. If you are planning on working until you’re eligible to receive CPP, my guess would be you are likely either a)a middle- or lower-income earner who will work until that age in part because the CPP leg will be a significant part of your retirement stool; or b) someone who loves working and whose career is a big part of his or her personal identity.
In both cases, your tax rate in retirement will not be appreciably lower because, in the case of a), your tax rate was never that high to begin with and b)I am assuming you are a higher-income earner who is likely to have at least some other sources of income in retirement (a private pension, maybe, or a non-registered account or other investments). In the case of b), OAS clawbacks could definitely make your marginal effective tax rate higher than your rate when employed.
The RRSP, I think, is a good tool for people who want to retire early, who can collapse it between their retirement age and the age of taking CPP (or at least before they have to convert it to a RRIF), when they will then rely on a combination of CPP, private pensions (if applicable), and more tax-efficient income from non-registered accounts. For people with children nowadays, there’s a bonus to the RRSP as it can reduce net income when their children are young and eligible for the Child Benefit, the clawback rates on which can be very large for some families at some income levels.
I know that the article is about existing retirees who didn’t have access to the TFSA, and that’s why I didn’t mention the TFSA above. I think it’s a (very big) bonus. Those retirees the author is quoting probably would have been better off using non-registered accounts with more efficient taxation. That’s especially true if they had an employer pension plan, which was more common in the past.
Summary: the RRSP is for income smoothing, not retirement. Collapse it before taking CPP and receiving other pensions, if applicable. Don't let yourself be forced to convert it to as RRIF.