2014 CPP and EI rates
New contribution levels have been announced by the Canada Revenue Agency for the Canada Pension Plan (CPP) and Employment Insurance (EI).
For 2014, the Year’s Maximum Pensionable Earnings (YMPE), on which CPP contributions are based, has been increased from $51,100 (2013 level) to $52,500. This means that CPP contributions will be deducted at a rate of 4.95% up to a maximum contribution level of $2,425.50.