The Canada Customs and Revenue Agency has released the Canada Pension Plan (CPP) rates for 2001. The rate is 4.3 per cent, up from 2000's 3.9 per cent.
Here is a complete breakdown:
Maximum pensionable earnings: $ 38,300.00
Basic exemption: $ 3,500.00
Maximum contributory earnings: $ 34,800.00
Contribution rate (employer and employee): 4.3%
Maximum employee contribution: $ 1,496.40
Maximum employer contribution (per employee): $ 1,496.40
The rates are the same as the Quebec Pension Plan (QPP) rates.