CPP Benefits Going Up In New Year

If you collect a Canada Pension Plan cheque, you’ll get a bit more money beginning in January.
The amount is going up by 1.8%.
For new recipients, at 65, the maximum CPP retirement benefit will be $1,064 per month.
The federal government reviews CPP once a year and adjustments are made based on the cost of living or the Consumer Price Index.
Meantime, Old Age Security benefits will hold steady for the first quarter of 2015.
The basic old age pension will stay at roughly $563 per month.
Those benefits are measured quarterly.