2024 Cola Increase Canada Government. The maximum monthly cpp payment increased by 4.4% from $1,306.57 in 2023 to $1,364.60 in 2024. If you started your pension before 2023, you will receive the full 4.8%.
The indexing of public service pension plan benefits is governed by two pieces of legislation; 18 (1) subject to subsections (2) to (4) and section 19, the minister must determine the age and identity of an applicant for the purposes of the act on the basis.