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Canada: Contribution limits for Canada pension plans (CPPs) increased for 2020

Canada: Contribution limits for CPPs increased for 2020

The Canada Revenue Agency announced that the Canada pension plan (CPP) contribution limits for 2020 will increase to $58,700* (up from $57,400).

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The employee and employer contribution rates for 2020 will increase to 5.25% (up from 5.1%), and the self-employed contribution rate will increase to 10.5% (from 10.2%).


Read a November 2019 report prepared by the KPMG member firm in Canada


*$ = Canadian dollar

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