News & Updates
Maximum Pensionable Earnings Under Canada Pension Plan for 2023
December 15, 2022
The Canada Revenue Agency has announced that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2023 will be $66,600 — up from $64,900 in 2022.
The employer and contribution rates along with the self-employed contribution rate are also going up in line with ongoing CPP enhancement initiatives.
For employees and employers, the rate in 2023 will be 5.95 per cent, up from 5.70 per cent. The self-employed contribution rate will be 11.90 per cent, up from 11.40 per cent in 2022.
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