Today's a great day guys!
We get our paystubs today for tomorrow's payday and I've maxed out my CPP and EI contributions for the year - which means each pay going forward will be an extra $200.
Woohoo!
For any non-Canadians...
CPP is the Canadian Pension Plan . It's required for employees and employers to contribute a fixed amount about to a maximum each year. Once you retire, you withdraw from CPP depending on certain income thresholds.
EI is Employment Insurance. It's another government plan where there are fixed contributions about to a maximum by both the employer and the employee. You can apply for EI if you are laid off, got on maternity/paternity leave, etc. - basically if you lose your job through no fault of your own.
EI & CPP
Posted by Jessie's Money with 3 comments
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Yay for the additional money!!!
ReplyDeleteLove it :)
DeleteThat is awesome, perfect timing for you aswell ! My husband hit the same thing last month and it's definitely a nice boost :)
ReplyDelete