A 16-year-old entering the workforce now will gain the most from the government's push to hike CPP contributions, while current retirees, and those on the cusp of retirement, will see no increase to their benefits. "Each year of contributing to the enhanced CPP will allow workers to accrue partial additional benefits. Full enhanced CPP benefits will be available after about 40 years of making contributions. Benefits under CPP are paid out according to a formula based on lifetime contributions from workers and their employers. But Conservative interim leader Rona Ambrose called the CPP hike an "unfortunate" development that will curtail a worker's take-home pay.

Source: CBC News September 19, 2016 19:08 UTC