Federal Canada Pension Plan
The Canada Pension Plan ("CPP") is a federally levied and administered plan that provides retirement, disability and survivors' benefits, certain children's benefits and death benefits. Employees and employers, including the self-employed, must contribute to the plan.
For the 2015 calendar year, the CPP contribution rate, by both the employee as well as the employer on behalf of the employee, is 4.95% on maximum contributory earnings of $53,600, less an exemption of $3,500. The maximum contribution is $2,479.95; for the self-employed, the maximum contribution is $4,959.90 (2 times $2,479.95).
For more information on the Canada Pension Plan, contact the Canada Revenue Agency, 325 Broadway Avenue, Winnipeg, at 1-800-959-8281 or visit the Service Canada web site.
