2010 CPP Contribution Rates and Maximums
The maximum pensionable earnings under the Canada Pension Plan (CPP) has increased from $46,300 to $47,000.
The employee and employer contribution rates will remain the same at 4.95%, giving a maximum contribution of $2,163.15. Self-employed contribution rates will remain at 9.9%, giving maximum contribution of $4,326.30.
Those who earn more than $47,200 are not permitted or required to make additional contributions, and those who earn less than $3,500 do not need to contribute to CPP.
For Canada Revenue Agency’s CPP chart vist CRA’s website
Every effort has been made to ensure the accuracy of the information, however, because of the nature of the subject, no person or firm involved in the preparation or distribution of this commentary accepts any liability for its contents or use. Please contact Dustin should you have any questions or require further information.