Maximum pensionable earnings for 2018

The Canada Revenue Agency announced that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2018 will be $55,900, up from $55,300 in 2017. The new ceiling was calculated using a CPP legislated formula that takes into account the growth in average weekly wages and salaries in Canada.
Contributors who earn more than $55,900 in 2018 are not required or permitted to make additional contributions to the CPP. The basic exemption amount for 2018 remains $3,500.
The employee and employer contribution rates for 2018 will remain unchanged at 4.95%. The self-employed contribution rate will remain unchanged at 9.9%.
The maximum employer and employee contribution to the CPP for 2018 will be $2,593.80 each. The maximum self-employed contribution will be $5,187.60. The maximums in 2017 were $2,564.10 and $5,128.20, respectively.