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1 |
PURPOSE |
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1.1 |
The purpose of this directive is to provide client departments and pay offices with the Canada Pension Plan (CPP) and the Quebec Pension Plan (QPP) rates, exemptions and earnings for the year 2007. |
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1.2 |
A notice of information to employees concerning the above has been included with this Compensation Directive and will also be posted in the "Who are you? - Public Service Employee" page of the Compensation Sector Web site.
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2 |
POLICY |
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2.1 |
Effective for the 2007 taxation year, the contribution rate for both of these plans remains at 4.95% of all contributory earnings. |
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2.2 |
Changes for the year 2007 are as follows: |
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Maximum Pensionable Earnings: $43,700 |
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Basic Exemption: $3,500 |
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Maximum Contributory Earnings: $40,200 |
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Maximum Contribution: $1,989.90 |
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Please note that the amounts for both plans are identical.
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3 |
PROCEDURES/INSTRUCTIONS |
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3.1 |
Effective January 1, 2007, the CPP and QPP rate in the Regional Pay System (RPS) will remain at 4.95% of all contributory earnings.
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4 |
INQUIRIES |
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4.1 |
Any inquiries on the information contained in this directive should be addressed to your Public Works and Government Services Canada (PWGSC) Compensation Services Office.
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