Penad Pension Services Limited 2021 YMPE
Summary
The Canada Revenue Agency (CRA) has recently announced the maximum pensionable earnings for 2021 will be $61,600, up from $58,700 in 2020. Contributors who earn more than $61,600 in 2021 are not required or permitted to make additional contributions to the Canada Pension Plan (CPP). The CRA announced the increase in YMPE reflects the growth in average Canadian weekly wages and salaries, calculated using a CPP legislated formula. The 2021 contribution rate for employees and employers has increased to 5.45%, an in crease of .20% (5.25% in 2020). The 2021 maximum employer and employee contribution has increased to $3,166.45 from $2,898.00 in 2020.
Classifications
industries
Fintech & Banking
applications
Data Management
AskAI Classifications
Labels
Pension Software
SaaS
Financial Services Software
Linked Companies
Penad Pension Services Limited
up to $1M