11. Canada Pension Plan (CPP)
Contribution Calculation
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| Rate/Amount |
2016 |
2017 |
| Contribution rate |
4.95 % |
4.95 % |
| Maximum annual allowable earnings |
$54,900.00 |
$55,300.00 |
| Annual exemption |
$3,500.00 |
$3,500.00 |
| Maximum annual pensionable earnings |
$51,400.00 |
$51,800.00 |
| Maximum annual contribution (employee and employer) |
$2,544.30 |
$2,564.10 |
Basic Exemptions
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| Frequency |
2016 |
2017 |
| Weekly (52 pay periods) |
$67.30 |
$67.30 |
| Bi-weekly (26 pay periods) |
$134.61 |
$134.61 |
| Semi-monthly (24 pay periods) |
$145.83 |
$145.83 |
| Monthly (12 pay periods) |
$291.66 |
$291.66 |
| Annually |
$3,500.00 |
$3,500.00 |