On November 1st, the Canada Revenue Agency announced that the maximum pensionable earnings for 2019 will be $57,400, up from $55,900 in 2018.
Contributors who earn more than $57,400 in 2019 are not required or permitted to make additional contributions to the Canada Pension Plan.
The basic exemption amount for 2019 remains $3,500.
The 2019 contribution rate for employees and employers has increased to 5.10% an increase of .15%.
The 2019 contribution rate for self-employed will also increase to 10.2%.
The 2019maximum employer and employee contribution to the plan will be $2,748.90, up from $2,593.80 in 2018.
The 2019 maximum self-employed contribution will be $5,497.80, up from $5,187.60 in 2018.