Sentences with phrase «pensionable income»

If she does not have pensionable income such as a lifetime company pension or annuity then the pension credit on up to $ 2,000 annually of pensionable income is not being used.

Not exact matches

This led to an increase in the Ontario Government's matching contribution from 8.9 % to 12 % of income above maximum pensionable earnings under the CPP.

This could be accomplished through a modest increase in premiums for Canadians who earn between 50 per cent and 100 per cent of the yearly maximum pensionable earnings under the CPP — in other words, people with incomes of between $ 27,450 and $ 54,900.

Even after CPP is fully expanded, it will cover off only about a third of your working income (a rise from 25 % of pensionable earnings which it has been doing).

The major difference is that it would not double the pensionable earnings limit, or create a separate category for lower income workers, hence it is far simpler.

Income from an RRSP is not pensionable — income from a RRIncome from an RRSP is not pensionable — income from a RRincome from a RRIF is.

So taxpayers need to have $ 55,300 of salary or self - employment income to make the maximum CPP contribution for the year and earn a full year of CPP pensionable service.

income replacement benefits will increase from one - quarter (25 %) to one - third (33 %) of pensionable earnings or from the current maximum of $ 13,110 to approximately $ 27,000 per annum.