Canada Pension Plan (CPP)
Contribution Calculation (2012)| Rate/Amount | |
|---|---|
| Contribution rate | 4.95% |
| Maximum annual allowable earnings | $50,100.00 |
| Annual exemption | $3,500.00 |
| Maximum annual pensionable earnings | $46,600.00 |
| Maximum annual contribution (employee and employer) | $2,306.70 |
Updated on January 1, 2012
Basic Exemptions (2012)| Frequency | Amount |
|---|---|
| Weekly (52 pay periods) | $67.30 |
| Weekly (53 pay periods) | $66.03 |
| Bi-weekly (26 pay periods) | $134.61 |
| Bi-weekly (27 pay periods) | $129.62 |
| Semi-monthly (24 pay periods) | $145.83 |
| Monthly (12 pay periods) | $291.66 |
| Annually | $3,500.00 |
Updated on January 1, 2012
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