According to the CRA announcement yesterday, the maximum pensionable earnings under (CPP) for 2021 will be $61,600. The employee and employer contribution rates for 2021 will be 5.45%—up from 5.25% in 2020
The maximum employer and employee contribution to the plan for 2021 will be $3,166.45 each and the maximum self-employed contribution will be $6,332.90. The maximums in 2020 were $2,898.00 and $5,796.00.
