What are the CPP and EI rates for 2022?
The employee and employer contribution rates for 2023 will be 5.95%—up from 5.70% in 2022, and the self-employed contribution rate will be 11.90%—up from 11.40% in 2022.
What is max CPP contribution for 2022?
The increase in contribution rate is due to the continued implementation of the CPP enhancement. The maximum employer and employee contribution to the CPP for 2023 will be $3,754.45 each and the maximum self-employed contribution will be double that. The maximums in 2022 were $3,499.80 and $6,999.60, respectively.
What is the maximum CPP benefit for 2022 at age 60?
How Much CPP Will I Get at Age 60? For 2022, the maximum monthly CPP payment is $1,253.59 or $15,043 per year. If you start collecting CPP at age 60, your monthly payment is 36% lower at $802.30 or $9,627.57 per year.