Cola 2024 Update Canada. The enhancement means that the cpp will begin to grow to replace one third (33.33%) of the average work earnings you receive after 2019. The new cola each year is based on the increase in the cpi for canada over the prior calendar year.

Improved payouts in 2024 and 2025 will see canadians’ cpp grow to match about a third of their work earnings made after 2019. You can find upcoming cpi release dates on our schedule.