What are the Biggest CPP Changes for 2024? Will You Pay MORE in CPP? How does the Canada Pension Plan Work? What are CPP Enhancements?

I’ll be breaking down all of the Essential CPP Changes in Canada for 2024. These updates were just announced and it’s important to plan ahead for the financial new year! Not only are CPP contributions going up, we’ve seen that every year since 2019, but the CPP is actually restructuring! As part of the CPP Enhancements, there will now be a SECOND tier of CPP contributions for higher income Canadians. I’ll break this down and walk you through examples at different income levels!

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SKIP AHEAD ⏩
-Intro: 0:00
-CPP Basics: 0:50
-NOT a Tax: 1:10
-Why Increase? 1:40
-CPP - How Much? 2:05
-Enhanced CPP: 3:19
-Example #1 - $60K: 4:37
-Example #2 - $90K: 5:04
-Self-Employed: 6:17

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