Finance

In 2024, Canadians will see several cost of living adjustments to key benefits such as the Canada Pension Plan (CPP), Old Age Security (OAS), the GST/HST credit, and the Canada Child Benefit (CCB). These changes are intended to help Canadians keep pace with inflation and rising costs of living. The Cost of Living Increase is Continue reading

The Canadian government has announced a new initiative to enhance the financial support provided to retired elders through the Canada Pension Plan (CPP). This program, referred to as the $1300/Month CPP Increase 2024, aims to offer significant financial assistance to eligible seniors. Here’s a comprehensive overview of this potential benefit, its eligibility criteria, and important Continue reading

The Canadian government has made an important announcement regarding the Pension Boost Canada 2024, which involves increasing the Canada Pension Plan (CPP) and Old Age Security (OAS) benefits for eligible Canadians. This move aims to support senior citizens who rely on these benefits to manage their daily living expenses, especially in the face of rising Continue reading

In a thrilling development for Canadian retirees, the Canada Revenue Agency (CRA) has confirmed a one-time payment of $1000 for all eligible retirees under the Canada Pension Plan (CPP). This significant news marks an important step in providing financial support and security to Canadian seniors. This guide will delve into the details of this CPP Continue reading

Discover important details about CPP payment dates 2024, disability benefit payment dates, increases, amounts, and limits in this article. We provide comprehensive information on these aspects, along with other crucial details. The Canada Pension Plan (CPP) is a monthly payment scheme for eligible individuals in Canada, offering two categories: Retirement Pension and Disability Benefits. Each Continue reading

As of June 1, 2024, the minimum wage in British Columbia (BC) has risen to $17.40 per hour, reflecting the province’s ongoing efforts to support workers amid increasing living costs. This change aims to keep wages in line with inflation and ensure that workers in BC are better able to afford the necessities of life. Continue reading

Deciding whether to take your Canada Pension Plan (CPP) benefits at age 60 is a significant decision that can impact your financial security in retirement. Here are five critical factors to consider before making this choice: 1. Impact on Monthly Benefits 2. Health and Longevity 3. Employment Status 4. Other Sources of Income 5. Inflation Continue reading

Yes, CPP (Canada Pension Plan) payments do increase with inflation. The CPP is designed to help retirees maintain their purchasing power even as the cost of living rises over time. This adjustment process is known as “indexing.” How Does Indexing Work? The CPP payments are indexed to inflation annually, which means that every year, the Continue reading

The Canada Pension Plan (CPP) is a valuable resource for Canadian retirees, but is it enough to cover your retirement expenses? As of 2023, the average CPP benefit is around $760 per month or approximately $9,120 annually. Unfortunately, this amount falls short of what many retirees need to maintain their standard of living. Financial experts Continue reading

Learn what happens to your CPP contributions if you leave Canada and how to claim your CPP benefits. Discover the rules for expatriates, eligibility requirements, and how moving abroad affects your retirement income. Stay informed to protect your financial future. What Happens to Your CPP Contributions If You Leave Canada? If you leave Canada, you Continue reading