Yes, this is correct. In order to make the election to stop contributing to CPP, you must be between the ages of 65 and 70 and receiving your CPP Retirement Benefits.

This term is found on the Schedule 8 itself from CRA regarding the date you can make the election: "The date cannot be earlier than the month you turn 65 and you are receiving a CPP or QPP retirement pension". 

https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-s8/5000-s8-18e.pdf

I am using the new online version of Turbo Tax and cannot find 

5000-S8 Schedule 8!! 

How do I find and fill out this form so that my wife and I can stop paying CPP.  

FYI..both of us are over 65 and receiving CCP.

Zordon