Another key change to the CPP starting in 2024 is a higher ceiling for earnings on which contributions will be required, called your Yearly Additional Maximum Pensionable Earnings, or YAMPE. Phased in over two years (a 7% increase in 2024 and a 14% increase in 2025), to an estimated maximum of $61,400 and $65,400, respectively.
These earnings will then be known as second additional pensionable earnings, and will combine with the original Year's Maximum Pensionable Earnings (YMPE), to form a total contribution rate of 8% (4% company contribution + 4% employee contribution).