What Is Year's Maximum Pensionable Earnings (YMPE)?

The year’s maximum pensionable earnings (YMPE) is determined by the Canadian government. The maximum amount on which to base contributions to the Canada or Quebec Pension Plan (C/QPP) is determined by the YMPE. The YMPE defines the number of earnings that can be used to calculate annual pension contributions.
The maximum earnings amount for which contributions to the Canada Pension Plan can be made is determined by the Canada Pension Plan (CPP). The maximum pensionable earnings under the Canada Pension Plan (CPP) for 2020, according to the Government of Canada, are $58,700, up from $57,400 in 2019. Contributors earning more than $58,700 in 2020 will be unable to make further CPP contributions.