What will be the estimated average final YMPE when Simone retires in seven years?

The estimated average final Year's Maximum Pensionable Earnings (YMPE) when Simone retires is calculated based on projected average wage increases and historical data. The YMPE is the maximum income on which contributions to the Canada Pension Plan (CPP) are based, and it typically increases each year due to inflation and wage growth.

To determine the average final YMPE for Simone, one needs to consider factors such as projections of wage growth over the next seven years and any adjustments that might affect the YMPE, particularly those that are tied to the Consumer Price Index (CPI) or overall economic growth.

When evaluating the choices, the option that aligns best with current trends in average income growth, historical increases in the YMPE, and projections over the retirement timeframe is often selected. This choice reflects a reasonable estimate considering past data and upcoming adjustments.

It's essential to understand how the YMPE is influenced by these economic indicators and trends to accurately predict future earnings benchmarks. Consequently, the estimated figure of $61,610 reflects an anticipated trend that takes these factors into account, making it the most appropriate selection for Simone's retirement situation based on the available information.