Then in 2019, the government phased in an increase in the employer-employee CPP contributions. From 2019 to 2023, the shared CPP contribution rate went from 9.9% to 11.9% (up to that year’s YMPE). Starting in 2024, the government has raised the amount of income considered for a “full...
Employee Contribution Rate 1.27% 1.32% Employer Contribution Rate 1.778% 1.848% Annual Maximum Employee Contribution $781.05 $834.24 Annual Maximum Employer Contribution $1,093.47 $1,167.94 QPIP - Quebec Employee 2023 2024 Annual Maximum Insurable Earnings - QPIP Earnings ...
If you are older than 17 but younger than 70, employed in pensionable employment, and don't receive a CPP retirement or disability pension, an employer will deduct CPP contributions from your pay. With a few exceptions, all employees pay CPP at a rateoutline...
An increased contribution rate up to 5.95% was phased in from 2019 to 2023 on earnings up to the Year’s Maximum Pensionable Earnings (YMPE), or thefirstearnings ceiling. The additional 1% contribution rate is for both employee and employer. ...
Then in 2019, the government phased in an increase in the employer-employee CPP contributions. From 2019 to 2023, the shared CPP contribution rate went from 9.9% to 11.9% (up to that year’s YMPE). Starting in 2024, the government has raised the amount of income considered for a “full...