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Canada Revenue Agency announces maximum pensionable earnings for 2013

| November 1, 2012

On November 1, 2012, the Canada Revenue Agency announced the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2013. The rate remains unchanged at 4.95% for employee and employer, and 9.9% for self-employed. Contributors who earn more than $51,100 in 2013 are notrequired or permitted to make additional contributions to the CPP. Below is the comparison:

2013 2012 2011 2010
Maximum Pensionable Earnings $51,100 $50,100 $48,300 $47,200
Basic Exemption $3,500 $3,500 $3,500 $3,500
EMPLOYER CONTRIBUTION
Maximum employer contribution $2,356.20 $2,306.70 $2,217.60 $2,163.15
Contribution rate 4.95% 4.95% 4.95% 4.95%
EMPLOYEE CONTRIBUTION
Maximum employee contribution $2,356.20 $2,306.70 $2,217.60 $2,163.15
Contribution rate 4.95% 4.95% 4.95% 4.95%
SELF-EMPLOYED CONTRIBUTION
Maximum self-employed contribution $4,712.40 $4,613.40 $4,435.20 $4,326.30
Contribution rate 9.9% 9.9% 9.9% 9.9%