Will the enhanced CPP be enough to live on?

Retirement Financial Planning

Will the enhanced CPP be enough to live on?

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Canada Pension Plan benefits are going to rise, but you’ll probably need more than CPP for a comfortable retirement. To get there, start saving now.

You might have heard that the Canada Pension Plan (CPP) is being changed to increase payouts to seniors. If you’re still working and making contributions to CPP in 2019, you’ll get more from the CPP when you retire. That’s definitely good news. But if you’re already retired or you plan to do so before 2019, you won’t be affected. In any case, it’s important to think of the CPP as just one slice of your financial retirement pie – you need to consider more ways to save for the future.

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