Previous MondayTuesdayWednesdayThursdayFridayNext

Share
Posted November 4 , 2013

____________________
Pensions

Canada Revenue Agency Announces Maximum Pensionable Earnings for 2014

OTTAWA - The Canada Revenue Agency announced friday that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2014 will be $52,500-up from $51,100 in 2013. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada.

Contributors who earn more than $52,500 in 2014 are not required or permitted to make additional contributions to the CPP.

The basic exemption amount for 2014 remains $3,500.

The employee and employer contribution rates for 2014 will remain unchanged at 4.95%, and the self-employed contribution rate will remain unchanged at 9.9%.

The maximum employer and employee contributions to the plan for 2014 will be $2,425.50 each, and the maximum self-employed contribution will be $4,851.00. The maximums in 2013 were $2,356.20 and $4,712.40.

Submit press release to pressrelease@exchangemagazine.com - Editor Jon Rohr - Content published on this site represents the opinion of the individual/organization and/or source provider of the Content. ExchangeMagazine.com is non-partisan, online journal. Privacy Policy. Copyright of Exchange produced editorial is the copyright of Exchange Business Communications Inc. 2013/*.*. Additional editorials, comments and releases are copyright of respective source(s) and/or institutions or organizations.
Submit Press Release
Visitor Centre
Weather
Advertising Inquires
Email
Tel: 519.886.0298

Subscribe to Exchange Magazine

Contact Information:

Publisher:
Exchange Business Communication Inc.
Waterloo, Ontario
, Canada

Contact Editors
editor@exchangemagazine.com

Print Editor - Paul Knowles
Daily Editor - Jon Rohr

Account Manager Sales
John Hobin
advertise@exchangemagazine.com