Cost Of Living Increase 2024 Canada Cpp. A 4.7% cpp and oas payment increase implemented 1 january 2024 is expected thanks to inflation indexing and the cpp enhancement. The exact increase in cpp payments for 2024 depends on the rate of inflation and adjustments made by the canada revenue agency (cra).
In 2024, canadians can expect to see changes including an increase to the cpp maximum pensionable earnings, a higher oas clawback threshold, and routine inflation. The maximum limit of earnings protected by the cpp will also increase by 14% between 2024 and 2025.