Pension indexing rate for 2024

November 16, 2023
Smiling adult couple.
Pension increases for retired members and their survivors are calculated annually using Consumer Price Index data from Statistics Canada.

At the end of each year, the Treasury Board Secretariat provides the National Association of Federal Retirees with information on the pension indexing increase that is effective Jan. 1 for federal public sector pensions.

The pension indexation rate effective Jan. 1, 2024, is 4.8 per cent. Federal Retirees was instrumental in establishing pension indexation back in 1970.

Information on the calculation of this index can be found on the Government of Canada website

To find out when you can expect your pension payments, review the Pension Centre’s calendar. If you have questions about your pension payments or find that a payment is late according to the calendar, you can reach out to the Pension Centre using your preferred means of communication.