Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
- The Canada Pension Plan (CPP) is a monthly, taxable benefit designed to supplement your income during retirement.
- CPP payments are not automatic — you must apply. To qualify you must: be at least 60 years old and have made at least one valid contribution to the CPP.
- The amount of your retirement pension depends on different factors, such as the age you decide to start your pension, how much and for how long have you contributed to the CPP, and your average earnings throughout your working life.
- In 2024, if you commence your pension at the age of 65, the highest monthly payout could be $1,364.60. The typical monthly payment for a new retirement pension initiated at age 65, as of October 2023, stood at $758.32.
- CPP payments go out every month. The first payment of 2024 took place on January 29.
- If you’re eligible for Canada’s pension plan, you could qualify for over $1,300 per month.
Comments
Post a Comment