The maximum pensionable earnings under the Canada Pension Plan (CPP) will increase $1,100 to $53,600 in 2015 from $52,500 in 2014.
The Canada Pension Plan (CPP) rate (4.95%) and exemption ($3,500) remains the same in 2015.
The maximum employee and employer contribution to the pan for 2015 will be $2,479.95 – up from $2,425.50 in 2014. As a result, the employees who earn $53,600 or more will have to make $54.45 more in CPP contribution compared to 2014. Employers will also see their CPP expenses to increase $54.45 for each employee whose salary is $53,600 or higher.
The maximum self-employed contribution for 2015 will be $4,959.90 – up from $4,851.00 in 2014.