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Reaching Your CPP Contribution Maximum: What Workers Need to Know

  Understanding when you’ve hit the Canada Pension Plan (CPP) maximum contribution for the year can save you confusion—and help you make sense of your paycheques as the year goes on. The CPP is designed with an annual limit, meaning once you’ve contributed the maximum required amount, no further CPP deductions should come off your income for the rest of that calendar year. How CPP Contributions Work CPP contributions are based on: Your employment income The year’s maximum pensionable earnings (YMPE) The CPP contribution rate Each year, the federal government sets: A maximum amount of income on which CPP contributions apply (the YMPE) The maximum total contribution you and your employer must make Once your income reaches that threshold, your contributions stop automatically. How to Know You’ve Reached the Maximum Here are the simplest ways to tell: Check your pay stub Your pay stub shows year‑to‑date CPP contributions. Compare this number to the annual maximum ...
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Your daily horoscope: November 22, 2024

 

HOROSCOPES IF TODAY IS YOUR BIRTHDAY

The message of your birthday chart this year is that you must follow your hunches even if they lead you in directions that everyone else seems to be avoiding. Others can take the easy path if they like but you need adventure every step of the way.

ARIES (March 21 - April 20):

Your mind is so sharp now that you will see things that your rivals have missed. Turn that to your advantage and show people in authority that you are by far the smartest cookie in the box, though they probably know that already.

TAURUS (April 21 - May 21):

You will receive news that does not delight you today. If it revolves around a family or financial issue you must treat it as a wake-up call and get it sorted out once and for all. Deal with it now or it will keep getting worse.

GEMINI (May 22 - June 21):

Someone you meet on your travels will open your mind to new possibilities over the next 24 hours. They could even become one of the most important people in your life, so get out and about and make sure you are easy to approach.

CANCER (June 22 - July 23):

What you discover today will make you feel a lot better about your money situation but you will still have to be careful. The more others urge you to spend an unexpected financial gain the more you must be sensible and save it instead.

LEO (July 24 - Aug. 23):

As a fire sign you never admit defeat and something you see or hear today will inspire you to try again at a task that has been a lot harder than you expected. Try approaching it from a different angle – and you may get better results.

VIRGO (Aug. 24 - Sept. 23):

What you learn from a friend today will put a new slant on what’s been going on in your private life. At the very least you will realize that the situation is not half as bad as some people were trying to persuade you it was.

LIBRA (Sept. 24 - Oct. 23):

The fact that you have a great idea is only the start of the journey you must take over the next few weeks. The next big step is that you find ways to turn that idea into something physical, something you can hold up and show to the world.

SCORPIO (Oct. 24 - Nov. 22):

You seem to be on a completely different wavelength to someone you are working with on a joint project. For that reason alone you must both halt what you are doing and have a talk-it-through session so you can find common ground again.

SAGITTARIUS (Nov. 23 - Dec. 21):

With the sun and Mercury moving through your sign you are projecting a lot of positive vibes. However, Mercury begins its retrograde phase in just a few days, so don’t make promises you cannot know for certain you will be able to keep.

CAPRICORN (Dec. 22 - Jan. 20):

You can easily slip into a negative frame of mind at this time of year and that is something you must do your utmost to avoid. Add up all the things in your life you have to be thankful for. It will be a long and inspirational list.

AQUARIUS (Jan. 21 - Feb. 19):

Listen to what friends and loved ones have to tell you today, even if it is not what you were hoping to hear. They can see the current situation for what it is, as opposed to what you want it to be. Be smart and learn from them.

PISCES (Feb. 20 - Mar. 20):

It’s not like you to do something that is deliberately shocking but you are in one of those moods when you feel an overwhelming desire to be provocative. What do you think would surprise friends and loved ones the most? Do that!

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