Cost Of Living Increase 2024 Canada Cpp Increase. Cpp benefits will go up by 4.4% in 2024, bringing the maximum monthly payout to $1,364.60. Old age security payment amounts are reviewed each year in january, april, july and october to ensure they reflect cost of living increases, as measured by the consumer price index (cpi).

The second phase of the canada pension plan (cpp) enhancement program has come into effect as of january 2024, and with it, the final cpp contribution rate increase for most canadians. Another change is that if you’ll earn more than $68,500 in 2024, you’ll be.