As of 2024, the CPP contribution rates for employees and the self-employed are the same as in 2023: 5.95% and 11.9%, respectively, unless they make more than the YMPE, which is $68,500 in 2024 and ...

Here, the CPP contribution rate increased from 4.95% in 2019 to 5.95% in 2023 on earnings between $3,500 and the maximum pensionable earnings. What is the CPP2, and how is it calculated?

Big changes are coming to the Canada Pension Plan (CPP) in 2023. Not only will these changes affect the amount you pay in (or if retired, receive), they will also affect your investments. The amount ...

The Government publishes an official “average CPP estimate” for Canadians taking CPP at 65 each year. If you take the amount and reduce it by 36%, you arrive at $532.43.

CPP, however, has a larger window with wiggle-room for early retirement (as young as 60). Both OAS and CPP can be deferred, and the longer you wait to cash in, the bigger your monthly payouts will be.

For many years, I have recommended that people start their CPP pensions at age 70. As the chart below shows, this isn’t when most people actually start to collect CPP. In fact, only 4 per cent ...

What you’ll need To qualify for the maximum CPP in 2025, you must contribute up to the Year’s Maximum Pensionable Earnings (YMPE) for at least 39 of the 47 years between ages 18 and 65. For ...

Another scenario could be that you had a phase where your income was very low for three years. However, you are now in the high-income bracket. Go back and calculate the years when you were in the ...

Collecting CPP and OAS while working in your 60s You can begin your Canada Pension Plan (CPP) pension as early as age 60 or as late as age 70, Simon. At age 65, you generally need 39 years of ...