The Teamsters Union, which represents 120,000 members across the country, welcomes the news of a breakthrough agreement to expand the Canada Pension Plan (CPP).

The new agreement is the first significant increase in CPP benefits since the program’s creation in 1966. Employers and workers both contribute 4.95% of income between $3,500 and $54,900 under the current CPP. The new deal will raise the upper limit to $82,700 by 2025.

“We’ve been pushing for this for years,” said François Laporte, the President of Teamsters Canada. “The labour movement can be proud of its efforts to improve the lives of Canadians.”
Teamsters Welcome New Deal on CPP | Teamsters Canada