2024 Cola Increase Canada. Based on changes in the consumer price index (cpi), oas benefits will increase by 1.3% for the october to december 2024 quarter, for an increase of 2.8% over the past year,. Major settlements are those involving bargaining units of 500 or more employees.

While a 2.5% bump is comparatively underwhelming, it’s actually not that. Here’s why, and how much more you’ll pay as an employee or as a freelancer.