CPP Maximum pensionable earnings for 2022 announced
Date: November 1, 2021
Source: Advisor’s Edge
The Canada Revenue Agency has announced that the maximum pensionable earnings under the Canada Pension Plan for 2022 will be $64,900, up from $61,600 in 2021.
Contributors who earn more than $64,900 in 2022 are not permitted to make additional contributions to the CPP. The basic exemption amount for 2022 remains at $3,500, according to a release from the CRA.
The RRSP dollar limit, which is indexed, will be $30,780 for 2023 and $29,210 for 2022, up from $27,830 in 2021.
The TFSA limit for 2022 will be announced later this year.