In every province except Quebec, which has its own Quebec Pension Plan (QPP), the CPP taxes wages in a manner that is split between the employer and the employee, although the net effect is to reduce employee wages by the combined taxable amount. Taxes on wagesbegin at age 18 and end a...
Alternatively, the more relevant example for most people would be that they probably had some years where they did not contribute the full YMPE amount. What that would mean to an early retiree is that you’d “use up” some of your dropout years on those “zero contribution years” of ea...