CPP Pensionable Earnings Rise for 2014

The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2014 will increase to $52,500 in 2014, which is an increase from $51,100 in 2013, while the basic exemption remains at the current $3,500 level.

While employee contribution rates remain unchanged at 4.95% and the self‑employed contribution rate will remain unchanged at 9.9%, maximum contributions will still rise for everyone.

The maximum employer and employee contributions are $2,425.50 each and the maximum self-employed contribution will be $4,851.00. The maximums in 2013 were $2,356.20 and $4,712.40.