Maximum Pensionable Salary under the UAPP for 2024 increases to $201,050.00
The increase in the YMPE to $68,500 combined with the announced maximum pension benefit of $3,610.00 in 2024 for each year of service under defined benefit pension plans means that the maximum pensionable salary (sometimes called the pensionable salary cap) under the UAPP will rise to $201,050.00 in 2024, up from $195,313.33 in 2023. In 2024, […]
Year’s Maximum Pensionable Earnings under CPP for 2024 increases to $68,500 from $66,600 in 2023
The Canada Revenue Agency has announced that the Year’s Maximum Pensionable Earnings under the Canada Pension Plan (CPP) for 2024 will be $68,500 – up 2.9% from $66,600 in 2023. The new ceiling was calculated according to a CPP-legislated formula that takes into account the growth in average weekly wages and salaries in Canada. The employee and […]
2024 COLA for UAPP Pensioners is 2.34%
The 2024 cost-of-living adjustment (COLA) for pensioners who retired prior to January 1, 2023 is 2.34%. For persons who retired in 2023, the COLA increase is prorated based on the number of complete months the person was on pension in the year. The increase is applied to the base pension, including any bridge benefit that is being […]
Maximum Pensionable Salary under the UAPP for 2023 increases to $195,313.33 for service after 1993.
The increase in the YMPE to $66,600 combined with the announced maximum pension benefit of $3,506.67 in 2023 for each year of service under defined benefit pension plans means that the maximum pensionable salary (sometimes called the pensionable salary cap) under the UAPP will rise to $195,313.33 in 2023, up from $190,470.00 in 2022. In […]
Year’s Maximum Pensionable Earnings under CPP for 2023 increases to $66,600 from $64,900 in 2022
The Canada Revenue Agency has announced that the Year’s Maximum Pensionable Earnings (YMPE) under the Canada Pension Plan (CPP) for 2022 will be $66,600 – up 2.6% from $64,900 in 2022. The new ceiling was calculated according to a CPP‐legislated formula that takes into account the growth in average weekly wages and salaries in Canada. […]
2023 COLA for UAPP Pensioners is 3.72%
The 2023 cost‐of‐living adjustment (COLA) for pensioners who retired prior to January 1, 2022 is 3.72%. For persons who retired in 2022, the COLA increase is prorated based on the number of complete months the person was on pension in the year. The increase is applied to the base pension, including any bridge benefit that is […]
Maximum Pensionable Salary under the UAPP for 2022 increases to $190,470.00 for service after 1993.
The increase in the YMPE to $64,900 combined with the announced maximum pension benefit of $3,420.00 in 2022 for each year of service under defined benefit pension plans means that the maximum pensionable salary (sometimes called the pensionable salary cap) under the UAPP will rise to $190,470.00 in 2022, up from $180,757.78 in 2021. In […]
Year’s Maximum Pensionable Earnings under CPP for 2022 increases to $64,900 from $61,600 in 2021
The Canada Revenue Agency has announced that the Year’s Maximum Pensionable Earnings (YMPE) under the Canada Pension Plan (CPP) for 2021 will be $64,900 – up 5.4% from $61,600 in 2021. The new ceiling was calculated according to a CPP‐legislated formula that takes into account the growth in average weekly wages and salaries in Canada. […]
2022 COLA for UAPP Pensioners is 1.56%
The 2022 cost‐of‐living adjustment (COLA) for pensioners who retired prior to January 1, 2021 is 1.56%. For persons who retired in 2021, the COLA increase is prorated based on the number of complete months the person was on pension in the year. The increase is applied to the base pension, including any bridge benefit that is […]
Maximum Pensionable Salary under the UAPP for 2021 increases to $180,757.78 for service after 1993.
The increase in the YMPE to $61,600 combined with the announced maximum pension benefit of $3,245.56 in 2021 for each year of service under defined benefit pension plans means that the maximum pensionable salary (sometimes called the pensionable salary cap) under the UAPP will rise to $180,757.78 in 2021, up from $172,221.11 in 2020. In […]