The Canada Pension Plan contribution rate for 2023 is set at 5.95% of pensionable earnings for the year.
Maximum pensionable earnings for the year will be $66,600, and the basic exemption is unchanged at $3,500.
The maximum employer and employee contributions to the plan for 2023 will be $3,754.45 each, and the maximum self-employed contribution will be $7,508.90.
