what is the max cpp contribution for 2023

According to the Canada Revenue Agency, the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2023 will be $66,600, up from $64,900 in 2022. Contributors who earn more than $66,600 in 2023 are not required or permitted to make additional contributions to the CPP. The employee and employer contribution rates for 2023 will be 5.95%, up from 5.70% in 2022, and the self-employed contribution rate will be 11.90%, up from 11.40% in 2022. The maximum employee contribution for CPP in 2023 is $3,754.45, or 5.95% of your salary (less a $3,500 exemption), whichever is more. For self-employed people, the maximum CPP contribution is $7,508.90.