The Canada Revenue Agency (CRA) has released the contribution rates and amounts which will apply with respect to the Canada Pension Plan (CPP) during the 2022 calendar year.

For 2022, the employer and employee contribution rates will be 5.7% each. Maximum pensionable earnings have been increased to $64,900, meaning that the maximum employer and employee contribution will be $3499.80 each. The maximum contribution by a self-employed individual (who pays both employer and employee contributions) will be $6,999.60.

The CRA announcement of the CPP rates for 2022 can be found on the CRA website at https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2021/canada-revenue-agency-announces-maximum-pensionable-earnings-2022.html.