The Canada Revenue Agency (CRA) has announced the contribution rates and amounts for both employers and employees which will apply for 2018.

Maximum pensionable earnings for the year will be $55,900 (with a basic exemption of $3,500), and employer and employer contribution rates are unchanged, at 4.95% each.

The maximum employer and employee contribution amounts for the year will therefore be $2,593.80 each. The maximum contribution by self-employed individuals, who pay both the employer and employee portions, will be $5,187.60.

The announcement of the contribution rates and amounts for 2018 can be found on the CRA website at https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2017/maximum-pensionable-earnings-2018.html.