Get ready to see a little less money on your paycheque in 2019.

The Federal Government are now taking a little more by way of increased Canada Pension Plan contributions.

High River Chamber of Commerce President, Steven Muth, says it's not just you and I paying more into our pensions.

"They increased the maximum to which Canada Pension applies on earnings. And then that's going to increase for a number of years, greater than it has in the past. Which means that both increases for both the employee and employer."

Muth says even with the increases, CPP is not enough on it's own, to live on in retirement, so he stresses the importance of planning for retirement through other means.

 

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