What are the Canadian pension plan rates in 2015?


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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