Guide to Second CPP Contribution (CPP2) in 2024

Posted by RSCPA Firm
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Feb 6, 2024
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Starting January 2024, Canada is set to introduce a second contribution rate increase to the Canadian Pension Plan (CPP), a government-sponsored pension program. This change has sparked conversations and debates surrounding its potential impact on individuals, businesses, and the overall economy.
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Jay Holmes
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ReconcileBooks

Employees contribute 4% of the amount they earn between the first earnings ceiling and the second earnings ceiling.
Self-employed individuals contribute 8% of the amount they earn between the first earnings ceiling and the second earnings ceiling.

Mar 8, 2024 Like it Reply
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