Calculating Source Deductions and Employer Contributions. The contribution for the additional plan is being phased in as follows: For to , the employee's QPP contribution includes the base contribution and a first additional contribution.
As of , the employee's QPP contribution will include the base contribution, a first additional contribution and a second additional contribution. The second additional contribution will be calculated on the portion of an employee's pensionable salary or wages exceeding the employee's maximum pensionable earnings under the QPP for the year, up to the additional maximum pensionable earnings under the QPP for the year.
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Maximum insurable earnings Basic exemption for the year. Employer Rate Maximum. Employee Rate Maximum. Self-employed worker Rate Maximum. If you are under age 65, you will receive a reduced pension for the duration of your retirement.
Conversely, your pension will be greater if you begin receiving it after age Search search Launch search. Learn More. Paying a Balance Due or Receiving a Refund. You are 70 or older. You cease to pay QPP contributions when you have definitively retired. Print Share. For all. One vision. Concrete actions.
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