CPP benefits will increase by 2.8% for those already receiving CPP benefits. The maximum CPP retirement benefit for new recipients will increase from $960 to $986.67 per month.
The new CPP rates will be in effect until Dec. 31, 2012. The basic OAS pension, the Guaranteed Income Supplement and the Allowances will increase by 0.4%. The maximum
Major Changes Coming to the Canada Pension Plan
The Ottawa Citizen reported today that following a meeting between Jim Flaherty and provincial Finance Ministers, major changes to the Canada Pension Plan (CPP) are coming and will be phased in gradually starting in 2011. Among the changes: Read More..
Canada Pension Plan (CPP) Rules 2012
A person's CPP retirement pension is calculated as 25% of his average pensionable earnings during his contributory period. The contributory period starts when he turns 18, or 1966, whichever is later. The contributory period ends when he starts collecting the pension. This is still true after 2011, although the contributions made subsequent to starting the pension will result in the receipt of post-retirement benefits (PRB). Read More..
Canada Pension Plan and Old Age Security Benefit Rates Effective January 1, 2012
Human Resources and Skills Development Canada today announced the benefit rates for the Canada Pension Plan (CPP) and Old Age Security (OAS), effective January 1, 2012.
CPP benefits will increase by 2.8 percent for those already receiving CPP benefits. CPP benefits are revised once a year, in January, based on changes over a 12-month period (November 2010 to October 2011) in the Consumer Price Index (CPI), which is the cost-of-living measure used by Statistics Canada. Read More..
Canada Pension Plan Changes for Individuals Aged 60 to 70-January 2012
Significant changes to the Canada Pension Plan (CPP) will occur in January 2012 to reflect the way Canadians are living, working, and retiring. The changes will affect both employees and self-employed workers aged 60 to 70. The changes will not affect you if you are already receiving a CPP or Quebec Pension Plan (QPP) retirement pension and you remain out of the workforce. Read More..
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