Cpp Cost Of Living Increase 2024. Seniors aged 65 to 74 currently receive $615.37 per month as a maximum base amount, while those aged 75 and older receive $679.16 per month. Old age security payment amounts are reviewed each year in january, april, july and october to ensure they reflect cost of living increases, as measured by the consumer price index (cpi).

The indexing rate for 2024 is 4.8%. The cost of living adjustment (cola) is an annual increase to cpp and oas benefits to help offset the effects of inflation.