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Government Benefits & Payroll Deductions

Earnings

Pensionable & Insurable Earnings (excluding Quebec)

2017

Yearly Maximum Pensionable Earnings (YMPE) $55,300
Exemption amount for YMPE $3,500
Yearly Maximum Insurable Earnings $51,300



 

 

 

 

Payroll Deductions

Payroll Deduction Rates for 2017 (excluding Quebec)

Amount

Maximum

Canada Pension Plan (CPP) – employee 4.95% $2,564.10
Canada Pension Plan (CPP) – self-employed 9.90% $5,128.20
Employment Insurance (EI) – employee 1.63% $836.19
Employment Insurance (EI) – self-employed (voluntary) 1.63% $836.19


 

 

 


 

*Quebec Pension Plan information available here.

*Quebec Employment Insurance information is available here.

 

 Government Benefits

Government Benefits 2017

Amount

Maximum monthly CPP at age 65 (excluding Quebec) $1114.17
Maximum CPP death benefit $2500.00
Maximum Monthly OAS at age 65 $578.53
EI Benefits Link

 

OAS Clawback

OAS Clawback 2017

Amount

OAS clawback begins at income level of $74,789
OAS payments eliminated at income level of $121,071