11. Canada Pension Plan (CPP)

Contribution Calculation

Rate/Amount20212022
Contribution rate5.45 %5.70 %
Maximum annual allowable earnings$61,600.00$64,900.00
Annual exemption$3,500.00$3,500.00
Maximum annual pensionable earnings$58,100.00$61,400.00
Maximum annual contribution (employee and employer)$3,166.45$3,499.80

Basic Exemptions

Frequency20212022
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