Media releases | February 15, 2024

In a landmark announcement, the Canada Revenue Agency has declared a significant uptick in the Canada Pension Plan (CPP) payments, promising an additional $1,050 per month to eligible seniors. This strategic move, aimed at narrowing the chasm between the existing maximum CPP payout and the retirees' financial needs, marks a pivotal moment for Canadian citizens and permanent residents reliant on the government-run retirement benefits program. With the eligibility for CPP payments commencing at age 60—and higher payments for those deferring until age 70—qualified recipients can anticipate the augmented CPP payments within the ensuing 6 to 12 months. Read more →