👉Starting in 2024, middle-income earners will experience an increase in their Canada Pension Plan (CPP) deductions. The CPP has introduced a second earnings ceiling, impacting those earning above a specified amount with additional payroll deductions. While this aims to fortify benefits and enhance financial stability for future retirees, it also means higher contributions for some. Under the revamped pension plan, individuals earning up to $68,500 see no change in contribution rates, while those earning beyond face an additional four percent on earnings between $68,500 and $73,200. The CPP changes reflect ongoing efforts to bolster retirement support and financial security.✅ . . #CPP #Deductions #2024 #TaxChanges #FinanceNews #Canada #Retirement #mnm #malayalisnearmeapp #canadaupdate #canadanews