CPP deductions rise as two-tier earnings apply to 2024
Middle income workers will see higher CPP contributions starting Monday as Canada introduces a second earnings ceiling in 2024. The enhanced pension plan adds a second tier for earnings above $68,500 up to $73,200 with an extra four percent, boosting potential retirement income but delaying full benefits.
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Chinese factory activity slows in December
A government PMI survey shows China manufacturing contracted in December, with the official index at 49.0, marking the third straight month of decline as weak demand weighs on output. Non-manufacturing PMI rose to 50.4 while construction expanded strongly at 56.9, signaling divergent sector trends amid policy stimulus.
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