Canada Pension Plan (CPP) rates pushed up for 2001

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.

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