Cola Increase 2024 Ontario Canada. The maximum monthly cpp payment increased by 4.4% from $1,306.57 in 2023 to $1,364.60 in 2024. The adjustment is based on 100% of the adjustment in the consumer price index (cpi), a weighted basket of.

Ontario’s financial accountability officer has projected the overall cost could add up to $13 billion because the wage increases will now be baked into salaries in. You can find upcoming cpi release dates on our schedule page.