Changes to CPP, QPP deductions taking effect this month

Middle-income earners will start seeing a larger portion of their paycheques going toward their Canada Pension Plan contributions as of Jan. 1. A broader pension revamp began in 2019, as both the Quebec Pension Plan and CPP began phasing in enhanced benefits intended to provide more financial support for Canadians after they retire. So far, individual contributions  — and the employer’s matching portion — have primarily ticked upward. Read full article here.