Canada Revenue Agency announces maximum pensionable earnings for 2022

The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2022 will be $64,900—up from $61,600 in 2021. The new ceiling was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada.

Contributors who earn more than $64,900 in 2022 are not required or permitted to make additional contributions to the CPP.

The basic exemption amount for 2022 remains at $3,500.