2024 Maximum Pensionable Earnings. Beginning in 2024, the maximum pensionable earnings under the canada pension plan (“cpp”) will have two tiers. In 2024, the second earnings ceiling, known as the year’s additional maximum pensionable earnings, or yampe, will be introduced.
It is higher than the mpe set. The maximum pensionable earnings under the canada pension plan for 2024 will be $68,500, up from $66,600 in 2023, according to the canada revenue agency.
These Tables Outline The Annual Money Purchase (Mp), Defined Benefit (Db), Registered Retirement Savings Plan (Rrsp), Deferred Profit Sharing Plan (Dpsp), Advanced Life.
The yampe is based on the amount of the first.
Starting In 2024, Pensionable Earnings Above The Ympe And Below The Yampe Will Be Subject To A Cpp.
The actual numbers will depend on the ympes for 2024 and 2025 once they are announced.
2024 Maximum Pensionable Earnings Images References :
The Enhancement Means That The Cpp Will Begin To Grow To Replace One Third (33.33%) Of The Average Work Earnings You Receive After 2019.
Maximum pensionable earnings and québec pension plan contribution rate.
The Maximum Pensionable Earnings Under The Canada Pension Plan For 2024 Will Be $68,500, Up From $66,600 In 2023, According To The Canada Revenue Agency.
Members can only contribute on pensionable salary up to $201,050.
