Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

CPP Contributions Going Up in 2024: A Shift of Wealth from Boomers to Millennials

ByBrandon Beavis
Published 2023-11-09, 07:31 a/m

In this episode we'll look at the upcoming CPP changes that take effect in 2024 is designed to improve the retirement security of Canadians, especially younger workers. Is it fair to older generations who have paid into the system for decades?

Also on the program, the Canada Revenue Agency is increasing the interest rate it charges for overdue taxes and late installment payments. Statistics Canada has released the new Trade Balance numbers, and Canada has an unexpected surplus in October. Also, the RBC (TSX:RY) takeover of HSBC branches might be in jeopardy, as Pierre Poilievre and the House of Commons Finance Committee want to stop the deal. Also, Unifor and Stellantis have ratified the auto agreement, and we have earnings from IA Financial, Intact Financial (TSX:IFC), Rivian and Uber.

This content was originally posted on the Beavis Wealth's YouTube Channel

Latest comments

The CPP analysis is misleading and designed to spark controversary (I suppose I’m playing into it by commenting). Your CPP benefit increases the longer you contribute at the enhanced rates. Boomers who don’t contribute the extra amount for an extended period of time won’t get much in regard to the enhanced benefit. Boomers are in no way subsidizing younger generation’s CPP. The younger generation is subsidizing their own retirement by payong more into CPP than boomers did.
might have to vote in favour of Alberta pulling out of the CPP with this happening. I thought the main thing the feds were saying was that changes to pensions now was a bad idea?
Smells like the cpp is in trouble
So boomers got cheap housong and lifestyles and now the younger generations have to pay more cppalso…. Need governemt to stop soending
All about population growth, blame the governments immigration policies. Nothing to do with ‘Boomers’. It all began in 1987 Hong Kong.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.