CRA lists 2015 max pensionable earnings

By Staff | November 3, 2014 | Last updated on September 15, 2023
1 min read

The Canada Revenue Agency announced today that the maximum pensionable earnings under CPP for 2015 will be $53,600—up from $52,500 in 2014.

The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada.

Still, contributors who earn more than $53,600 in 2015 are not required or permitted to make additional contributions to the CPP based on earnings exceeding this amount. Also, the basic exemption amount for 2015 remains $3,500.

The employee and employer contribution rates for 2015 will also remain unchanged at 4.95%, and the self-employed contribution rate will stay at 9.9%.

The maximum employee and employer contribution to the plan for 2015 will be $2,479.95 each, and the maximum self-employed contribution will be $4,959.90. In comparison, the maximums in 2014 were $2,425.50 and $4,851.00, respectively.


Understanding PRPPs and VRSPs

Should we lower RRIF withdrawal rates?

Most fear falling short of retirement savings goals

Foreign equities boost Canadian pension plans staff


The staff of have been covering news for financial advisors since 1998.