New Changes To The Canada Pension Plan That Could Affect Your Income l CPP Canada

#cpp #retirementadvice
These are some new changes to the Canada Pension Plan that could affect your income.

I’ll be breaking down all of the Essential CPP Changes in Canada for 2024. We also discuss on how much you will pay for CPP and hoe this would affect your income in 2024.

These updates were just announced and it’s important to plan ahead for the financial new year! Not only are the CPP contributions increasing, as we’ve seen every year since 2019, but the CPP is actually restructuring!

As part of the CPP restructuring, there will now be a SECOND tier of CPP contributions for higher income Canadians.

I have broken this down and walk you through examples at different income levels!

Highlights
00:00 Introduction
00:23 What is the CPP
01:49 Why the changes
03:34 The New Changes
05:00 Example 1
06:05 Example 2

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DISCLAIMER: I am a licensed insurance agent and a financial educator. My videos and the topics discussed are my opinions and are presented for education purposes only. This information should not be construed as legal or financial advice. It is always up to YOU to do your own due diligence. It’s YOUR money so make YOUR own decision!

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#CanadianTaxes #CPP #CRA #CanadianTaxGuide #CanadianFinance #CanadaPensionPlan