Скачать или смотреть Big Changes to CPP In 2024? More Contributions, More Payouts - What You Need to Know!

Changes are on the horizon for the Canadian Pension Plan (CPP) in 2024, marking the commencement of phase two enhancements announced back in 2018-2019. As we delve into these changes, it's crucial to understand the fundamental shift – contribute more to CPP, and you'll reap more rewards in your retirement. The initial phase, implemented over five years, has set the stage, and now, in 2024, we're stepping into the second phase.

The key alteration involves introducing a second tier, expanding the Yearly Maximum Pensionable Earnings (YMP) to $68,500 in 2024, with a subsequent increase to $73,800 in 2025. But what does this mean for you? Simply put, by contributing more, especially if you're early in your career, you stand to gain significantly in retirement. The goal is ambitious – up to a 50% boost in your pension if you contribute at the new maximum rate for multiple decades.

If you're curious about maximizing your CPP benefits, we've got you covered with a dedicated webinar on getting the most from CPP and OAS.

Stay informed, plan ahead, and secure a brighter financial future. Watch the full video for a comprehensive breakdown of these CPP changes. Your retirement journey starts with understanding the shifts happening to CPP in 2024!

0:00 - Intro
0:41 - Basics of Canadian Pension Plan (CPP)
2:28 - Phase 2 & Changes in CPP for 2024
4:29 - What do These Changes Mean For You?
5:47 - Outro

-------------------------------------------------------------------

Clinton and Kevin are with Becker Orr Wealth Management and are both Portfolio Managers with Canaccord Genuity Wealth Management. Combined they have over 40 years of experience.

Have a question or want to review your financial plan? Chat with us! Visit:
https://www.beckerorr.com/chat-with-us