Employers have been affected by the phased increase since 2019, he said. Between that year and 2023, both workers and their employers saw contribution rates rise by almost a full percentage point. Recommended from Editorial Canadian employers match their workers’ pensi...
The maximum CPP for 2023 is CAD$1,306.57.31 What Is the CPP Deduction? The CPP deduction is the amount deducted from your employee's pensionable earnings. You are required as an employer to contribute an amount equal to the CPP contributions that you deduct from your employees' remuneration....
One way involves a series of higher contribution rates from 2019 to 2023 and the other will involve a higher ceiling on how much annual income is subject to contributions in 2024 and 2025. By 2023, the employer’s contribution rate will be 5.95 per cent of an employee’s pensiona...