Cm'On!

Is this reasonable (or even comprehensible). The CPP is
indexed in January to make sure the incomes of the elderly
keep up wih inflation. But now, Old Age Security is recalibrated
in July with respect to the last year's income. So that the small
amount added in January pushes one into a higher income level...
yielding a lesser payment!?

Accordez vos violons, as one would say in French! 💢

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Rounding to 1%, someone whose global monthly income for July 2020 is up 1%
from July 2019 is keeping up with the cost of living.

The CPI went up 2% in 2019.

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A longish piece on the curent debate within Economic Theory:

https://www.economist.com/briefing/2020/07/25/the-covid-19-pandemic-is-forcing-a-rethink-in-macroeconomics?fsrc=newsletter&utm_campaign=the-economist-today&utm_medium=newsletter&utm_source=salesforce-marketing-cloud&utm_term=2020-07-23&utm_content=article-link-1

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