The Canada Pension Plan (CPP) retirement pension varies because of factors such as length of contributions, age at which you start payments, and average earnings throughout your working life. The government website says the maximum CPP amount for 2025 if you claim at age 65 is $1,346.60. However, most CPP users receive only an average of $815 monthly (as of July 2024). The reason? You qualify for the maximum monthly pension if you have contributed at least 39 years between 18 and 65, and the contributions are the maximum amount. The maximum annual pensionable earning for 2025 is $71,300, an increase of $2,800 from the $68,500 threshold in 2024. This threshold refers to the income or earnings required to qualify for the maximum CPP payout. If you have not earned the maximum pensionable earnings for most of your working years, kiss your chances goodbye. CPP users won’t get much pension increase for the enhancements in 2019. Many current contributors to the fund will likely fall short, too. The remedy is to augment the average CPP pension with investment income. If you have money saved, consider buying . Note that the average pension of $815 is 60.5% of the maximum CPP pension. The difference is $531.60. Generous dividend payers like ( ) and ( ) can help you earn the amount. However, it takes time and patience to reach the goal. Given the average 6.62% dividend yield, you must invest or accumulate $48,200 worth of shares ($24,100 in each) to make half or $265.90. If you add the Old Age Security (OAS) of $713.34 (2024 max at 65), you’d have a total of $1,794.24. CIBC is a solid choice because it’s the top-performing big bank stock year to date (+48.29%). Besides the hefty 5.5% dividend yield, the dividend track record is 156 years and counting. The current share price is $91.11. As of this writing, the market cap is $61.61 billion. Canada’s fifth-largest bank did not disappoint investors in its recent quarterly performance. In the third quarter (Q3) fiscal 2024 (three months ending July 31, 2024), revenue and net income rose 13% and 25% year over year to $6.6 billion and $1.8 billion. Its president and chief executive officer (CEO), Victor Dodig, credits the disciplined client-focused strategy and diversified North American platform for the strong results. TC Energy is fresh from the spinoff of its liquids pipeline business. The $71.4 billion company is now a pure-play natural gas, natural gas storage, power and energy solutions provider. At $70.14 per share, current investors enjoy a 56.54% year-to-date gain on top of the 7.74% dividend yield. Management expects demand for natural gas to soar and is confident that TC Energy can meet the surge in demand. Four key growth projects worth an estimated $1.5 billion in gross capital expenditures will drive long-term growth. The reality for future retirees is that only a handful receive the maximum CPP pension. Fortunately, it’s not the not of the road. There are other ways to boost retirement income, like generating pension-like income from top dividend stocks.You couldn’t fault the effort on either side, but the skill levels seemed to be lacking. Henshaw threw a forward pass with the try-line beckoning even if the pass had gone two yards backward. Billy Burns kicked the ball dead and Rory Scannell missed a penalty to touch. The passing and handling lacked accuracy resulting in quite a few knock-ons and turnovers. Sam Prendergast managed to avoid the above malaise – his passing was always accurate and his kicking precise. He also took his try remarkably well, although you have to wonder at the Munster midfield defence with Leinster a man down due to a Tommy O’Brien yellow card for repeated offenses in defence. What does Rory Scannell add to this Munster team? The penalty count was Munster 3 Leinster 11 at an early stage of the second half, so Leinster have a few work-ons as well. I always favoured Crowley as Sexton’s natural successor – Ross Byrne simply doesn’t represent enough of a running threat – which puts his backline under additional pressure. But unfortunately, both Crowley and Byrne’s form have taken a backward step as Prendergast’s star has risen, and right now he is the only outstanding player we have at 10. Sadly, Crowley was rested for this match which robbed the spectators of an interesting head to head comparison. But Munster were never going to take a 0-14 half-time score line lying down, with Tom Ahern using every inch of his 6’ 10” frame to make the line wide off a short tapped penalty and make it 7-14. The Leinster scrum really starting motoring and gave the referee no choice but to award penalties from which Prendergast extracted the maxim yardage. It didn’t take Van Der Flier long to bring the score-line back to a 14 point margin – 7-21. Henshaw then squandered a penalty advantage with a croc roll which meant the penalty was reversed. Seriously lads? Experienced test players conceding needless penalties? But Munster’s passing and handling did not improve, and they struggled to put sustained attacks together. As if to confirm my earlier prognosis, Ross Byrne then missed a penalty to touch. Prendergast’s masterclass seems to have spooked him into trying too hard and taking on too much. Not to matter, the Leinster pack took charge not troubling their backline with too much ball. Their modh díreach leading to a try for Caelan Doris. Despite not being a huge man, his ability to break through the toughest of defences never ceases to amaze me. The game ended with Leinster in almost total control, the Munster bench no match for Leinster’s. Tadgh Beirne was his usual industrious self, but it is difficult to pick out other outstanding Munster performers. For Leinster Osborne got involved an awful lot to mixed effect but other than Prendergast the plaudits have to go to the Leinster pack who had the edge for most of the match.
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