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» Go to news mainWhy your net pay may be lower in January
Posted by Financial Services on
January 26, 2024
in
General Announcements
Canada Pension Plan (CPP) and Employment Insurance (EI) deductions have yearly maximum contribution amounts. Once these limits are reached during the calendar year, the deductions stop for the remainder of the calendar year. Contributions to CPP and EI will commence again in January of each year, reducing net pay.
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