2026 spring economic update
The Canadian government presented the spring economic update on April 28. While many of the measures were anticipated, this is our expert analysis of those we feel will most affect Canadians:
How is the Canada Pension Plan changing?
Update 2026 proposes to introduce legislative amendments to the Canada Pension Plan, implementing a reduction in the base CPP contribution rate from 9.9% to 9.5%, effective January 1, 2027.
How could this affect Canadians? Starting in 2027, you can expect to see lower CPP deductions from your paycheque: about $133 per year on a $70,000 salary (with similar savings for employers).