In 2016 the new Canada Pension Plan maximum pensionable earning will be $54,900.
- The basic exemption amount for CPP is $3,500. The employee and employer contribution has not changed from 2015 at 4.95%.
- The maximum employee and employer contribution is $2,455.30 and the self-employed maximum is $5,088.60.
The 2016 Federal EI employee premiums have increased to $955.04 and the employer premium is $1,337.06.
- The rate stays unchanged at 1.88% since 2013.
- The EI annual insurable earnings have a maximum of $50,800 for 2016.
For more information on rate and premium increases, please contact our office at (613) 234-6006.