Canada Pension Plan: 1 Massive Change for 2021!
Image source: Getty Images Towards the end of 2020, the Canada Revenue Agency (CRA) trumpets were blaring to remind Canada Pension Plan (CPP) users of a massive change in 2021. Effective January 1, 2021, the CPP contribution limit will increase again. It is the third such increase since the start of the pension’s enhancements in 2019. Due to the mandatory increase, the Year’s Maximum Pensionable Earnings (YMPE) for 2021 is now $61,600. In 2019 and 2020, the YMPE was $57,400 and $58,700. The increase in the YMPE is the effect of the gradually increasing contribution rat...
Source: fool.ca