11. Canada Pension Plan (CPP)

Contribution Calculation

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Rate/Amount20192020
Contribution rate5.10 %5.25 %
Maximum annual allowable earnings$57,400.00$58,700.00
Annual exemption$3,500.00$3,500.00
Maximum annual pensionable earnings$53,900.00$55,200.00
Maximum annual contribution (employee and employer)$2,748.90$2,898.00

Basic Exemptions

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Frequency20192020
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