Hello,
The final CPI numbers to determine the 2024 COLA ( Cost of Living Allowance) for CPP came out this morning. 1875.3/12=156.275/149.7=1.04392-1×100=4.3921. The COLA for Jan 2024 will be 4.4%.
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I did not expect it before Dec.
Thanks.
CPP payments are indexed to the consumer price index (CPI), as measured over the 12-month period ending in October of the previous year. Every year the data for the new year comes out around this time.
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What the heck. 4.4%? With the way they skyrocketed interest rates?? They must be mocking us. Thanks for the few bucks, while CoL inflation far exceeds any benefit. QoL continues to slide.
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We are a few months behind.
They really need to reevaluate rates every quarter.
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Why is our measly CPPD check taxed? I don’t think people with disabilities living under the poverty line should have to pay tax. This extra money will just go towards increased carbon fees on our heating bills this winter so the government is just giving itself more money in the long run and not helping in any meaningful way to get people out the holes they live in 
Do they?
My overall income is low enough I don’t pay tax.
It is true that CPP-D is not tax free if you have other income that is over the minimum tax threshold.
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