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1997-044-e.html
COMPENSATION DIRECTIVE : 1997-044
December 15, 1997
Ottawa,
Canada
K1A 0S5
SUBJECT: 1998 Canada Pension Plan/Québec Pension Plan
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1
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PURPOSE
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1.1
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The purpose of this directive is to provide departments and paying offices with
the 1998 changes to the aforementioned subjects.
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2
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POLICY
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2.1
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Effective for the 1998 taxation year, the contribution rate for both of these
plans is increased to 3.2% of all contributory earnings.
(Please note that the Canada Pension Plan legislation has not yet been
passed. However, unless you are advised otherwise, it is expected to receive
Royal Assent by the end of the year.)
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3
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PROCEDURES/INSTRUCTIONS
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3.1
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The maximum pensionable earnings, the basic exemption, the maximum contributory
earnings and the maximum contributions for the Canada Pension Plan and the
Québec Pension Plan for 1998 are as follows:
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Maximum Pensionable Earnings : $36,900.00
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Basic Exemption : $ 3,500.00
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Maximum Contributory Earnings : $33,400.00
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Maximum Contribution : $1,068.80
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Please note that the amounts for both plans are identical.
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4
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INQUIRIES
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4.1
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Any request for information regarding the foregoing should be addressed to your
Public Works and Government Services Canada (PWGSC) Compensation Services
Office.
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Original Signed by
P. Charko
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P. Charko
Director General
Compensation Sector
Government Operational Service
Reference : CJA 9006-12
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[Print Version]