Quote:
Under the current CPP, employers and employees each contribute 4.95 per cent of income between $3,500 and $54,900. The maximum CPP benefit is $13,110. The average annual payment is $7,974.84.
Under the new deal, the upper earnings limit would rise to $82,700 by 2025.
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http://www.theglobeandmail.com/news/...ticle30532203/
Thanks Notley.
$82.7k at 5.95% means that the CPP cap will be approximately $4920 after the phase in period, up from $2479.95.