Canada Pension Plan Premiums and Payment

Canada Pension Plan Premiums and Payment

2021 2020 2019 2018 2017
  • Maximum pensionable earnings
  • Basis exemption
  • Maximum contributory earnings
  • Employee and employer rate
  • Maximum contribution
  • Self-employed contributory rate
  • Maximum self-employed contribution
  • $61,600
  • 3,500
  • $58,100
  • 5.45%
  • $3,166.45
  • 10.90%
  • $6,332.90
  • $58,700
  • 3,500
  • $55,200
  • 5.25%
  • $2,898.00
  • 10.50%
  • $5,796.00
  • $57,400
  • 3,500
  • $53,900
  • 5.10%
  • $2,748.90
  • 10.20%
  • $5,497.80
  • $55,900
  • $3,500
  • $52,400
  • 4.95%
  • $2,593.80
  • 9.90%
  • $5,187.60
  • $55,300
  • $3,500
  • $51,800
  • 4.95%
  • $2,564.10
  • 9.90%
  • $5,128.20
CPP Payments - Max Monthly Rates 2021 2020 2019 2018 2017
  • Retirement Benefit (at 65)
  • Survivor's Benefit
  •  - under 65
  •  - at 65 and over
  • Combined survivor's & retirement benefit at 65
  • Disability benefit
  • Combined survivor's and retirement benefit
  • Children of disabled contributors
  • Children of deceased contributors
  • Death benefit lump-sum
  • $1,203.75

  • 650.72
  • 722.25
  • 1,203.75
  • 1,413.66
  • 1,413.66
  • 257.58
  • 257.58
  • 2,500.00
  • $1,175.83

  • 638.28
  • 705.50
  • 1,175.83
  • 1,387.66
  • 1,387.66
  • 255.03
  • 255.03
  • 2,500.00
  • $1,154.58

  • 626.63
  • 692.75
  • 1,154.58
  • 1,362.30
  • 1,362.30
  • 250.27
  • 250.27
  • 2,500.00
  • $1,065.00

  • 581.13
  • 639.00
  • 1,065.00
  • 1,264.59
  • 1,264.59
  • 234.87
  • 234.87
  • 2,500.00
  • $1,065.00

  • 581.13
  • 639.00
  • 1,065.00
  • 1,264.59
  • 1,264.59
  • 234.87
  • 234.87
  • 2,500.00
 

 20242023202220212020
 Maximum pensionable earnings$68,500$66,600$64,900$61,600$58,700
 Basis exemption3,5003,5003,5003,5003,500
 Maximum contributory earnings$65,000$63,100$61,400$58,100$55,200
 Employee and employer rate5.95%5.95%5.70%5.45%5.25%
 Maximum contribution$3,867.50$3,754.45$3,499.80$3,166.45$2,898.00
 Self-employed contributory rate11.90%11.90%11.40%10.90%10.50%
 Maximum self-employed contribution$7,735.00$7,508.90$6,999.60$6,332.90$5,796.00

Canada Pension Plan Payments - Maximum Monthly Rates20242023202220212020
Retirement Benefit (at 65)$1,364.60$1,306.57$1,253.59$1,203.75$1,175.83
Survivor's Benefit
-under 65739.31707.95674.79650.72638.28
-at 65 and over818.76783.94752.15722.25705.50
Combined survivor's and retirement benefit at 651,375.411,313.131,257.131,203.751,175.83
Disability benefit1,606.781,538.671,457.451,413.661,387.66
Combined survivor's and disability benefit1,613.541,542.771,467.041,413.661,387.66
Children of disabled contributors294.12281.72264.53257.58255.03
Children of deceased contributors294.12281.72264.53257.58255.03
Death benefit lump-sum2,500.002,500.002,500.002,500.002,500.00

Calculation of CPP maximum monthly rates for new benefits
Retirement: 25% of 1/12 of the average year's maximum pensionable earnings. (YMPE) for last five years
Survivor:
-under 65: (retirement x 0.375) + flat rate ($165.6)
-65 and older: retirement x 0.60
Disability: (retirement x 0.75) + flat rate ($424.43)