Canada Pension Plan Cola Increase For 2024. Cpp payments have increased by 4.4% in 2024 compared to 2023. The canada pension plan (cpp) provides income to canadians in retirement, and its payments are adjusted every january to reflect changes in the consumer price.

The oas pension was permanently increased by 10 per cent for seniors aged 75 and over in july 2022. The canada revenue agency (cra) recently announced significant updates to the canada pension plan (cpp), effective january 1, 2024, as part of phase.