Fee-Only Financial Planning / Advising in Kitchener Waterloo Cambridge - WD Development


Blog



New 2023 numbers, Part 2

Next up in 2023 numbers that matter:

 

Canada Pension Plan contributions: $3,754.45 for employers & employees/ $7,508.90 for self-employed Canadians.  This is a noticeable hike; it's part of a multi-year plan that was approved by the provinces & feds in 2015.  Good news- there is also increased benefits that are funded by this increase.

 

EI premiums: $1,002.45 for employees on max insurable earnings of $61,500

 

Canada Pension Plan payments: max monthly retirement payment (age 65) $1,306.57.  A note that the average Canadian receives 56% of the max amount - $731.68/mnth.  CPP pays a number of other benefits, including post-retirement benefits, disability and survivor benefits.  For the entire list of CPP & QPP benefits, click here

Subscribe to this Blog Like on Facebook Tweet this! Share on LinkedIn

Contributors

Blog Contributor Portrait
Sara McCullough
83
July 24, 2024
show Sara's posts
Blog Contributor Portrait
Fraser Lang
1
May 10, 2017
show Fraser's posts

Latest Posts

Show All Recent Posts

Archive

Tags

Everything financial planning change Budgeting Insurance commuting executive severance Fee-Only Fee-Based wills estate planning RESP divorce family law certified divorce financial analyst CDFA manage your money 2024 financial changes