Q:

What are the Canadian pension plan rates in 2015?

A:

Quick Answer

As of 2015, the maximum annual Canadian Pension Plan contribution rate is 4.95 percent, according to the Canada Revenue Agency. The maximum annual employee contribution is $2,479.95 in Canadian dollars, and the maximum annual self-employed contribution is $4,959.90.

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Full Answer

The annual contributory earnings maximum is $50,100, after the basic exemption of $3,500 is applied, notes the Canada Revenue Agency. The figure represents a $1,100 increase from 2014.

The maximum monthly retirement pension rate for new Canada Pension Plan recipients aged 65 and older is $1,065, explains the Government of Canada. The maximum monthly post-retirement rate is $26.63. The disability benefit maximum is $1,264.59 a month. Children of disabled or deceased Canada Pension Plan contributors receive a maximum monthly benefit of $234.87. The monthly survivor's benefit maximum is $581.13 for individuals under 65 and $639 for individuals aged 65 and older.

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