CANADA PENSION PLAN: Costs are Increasing in 2021
The maximum pensionable earnings and contribution rate for 2021 have now been released and are a surprise to many; the cost of CPP is significantly increasing.
Year
Max. Pensionable Earnings ($)
Employer/ee Contribution Rate…
CPP: When to Apply?
While the normal age to begin receiving regular CPP is 65, individuals can apply to start receiving earlier at a cost, or later for a greater benefit:
If the individual starts before age 65, payments will decrease by 0.6% each month (or…