Canada Tax Agency Announces Pension Plan Contribution Rates for 2022
- November 2, 2021
- Posted by: admin
- Category: Business plans
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The Canadian Revenue Agency Nov. 1 announced pension plan contribution rates for 2022. The announcement includes increases in: 1) the maximum pensionable earnings under the Canada Pension Plan (CPP) to C$64,900 (US$51,799) from C$61,600 (US$49,165); 2) the employee and employer contribution rates to 5.70 percent from 5.45 percent, and to 11.40 percent from 10.90 percent for the self-employed; and 3) the maximum annual employee and employer contributions to C$3,500 (US$2,793) from C$3,166 (US$2,527) and to C$7,000 (US$5,586) from C$6,333 (US$5,054) for the self-employed. [Canada, Canada Revenue Agency,
