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CRA releases maximum pensionable earnings under CPP, new MP, DB, RRSP and DPSP limits

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November 03, 2023

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The Canada Revenue Agency has released the 2024 year’s maximum pensionable earnings (“YMPE”) and the year’s additional maximum pensionable earnings (“YAMPE”) under the Canada Pension Plan, as well as new money purchase (“MP”), defined benefit (“DB”), registered retirement savings plan (“RRSP”), and deferred profit sharing plan (“DPSP”)  limits.

The changes are as follows:

  • 2024 YMPE will be $68,500 (up from $66,600 in 2023)
  • 2024 YAMPE will be $73,200
  • 2024 MP limit will be $32,490 (up from $31,560 in 2023)
  • 2024 DB limit will be  $3,610 (up from $3,506.67 in 2023)
  • 2025 RRSP limit will be $32,490 (up from $31,560 in 2024)
  • 2024 DPSP limit will be $16,245 (up from $15,780 in 2023)

To learn more about this tax update, click on more information below:

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