Canada Pension Cost Of Living Increase 2024. The maximum monthly oas payment amount is expected to increase from $707.68 in 2023 to $718.33 in 2024 for seniors aged 65 to 74, and from $778.45 in 2023. The limit of how much of your income you contribute to the canada pension plan (cpp) has increased over the years, but 2024 will see a significant change for.
Old age security payment amounts are reviewed each year in january, april, july and october to ensure they reflect cost of living increases, as measured by the consumer. When pension will be increased in 2024?