When you initialize Employee Totals, Avanti will automatically adjust CPP and QPP rates to the new maximum if the old maximum is previously indicated. Ensure that the new rates are correct as part of your year-end process.
Important Information
If you haven’t created the new deduction/benefit code for the enhanced CPP and QPP, you’ll need to do so before your first pay in 2024. Go to Enhanced CPP and QPP Setup Guide for more information.
How to Verify CPP and QPP Rates
Important Information
This should only be done after Initialize Employee Totals is completed.
Step 1: Open CPP/QPP Groups in the Avanti Desktop Application.
By default, this can be found in Canadian Payroll >> Taxation & Assessment Tables.
Step 2: Confirm whether the following is correct for each CPP/QPP Group.
| CPP | QPP |
Basic Exemption | $3,500 | $3,500 |
Max Pensionable Earnings | $68,500 | $68,500 |
Employee Rate | 5.95% | 6.4% |
Employer factor | 1 | 1 |
Maximum Contributions | $3,867.50 | $4,160 |
Enhanced CPP/QPP Amounts | ||
Second Max Pension Earnings | $73,200 | $73,200 |
Second Max Contributions | $188 | $188 |
Second Employee Rate | 4% | 4% |
Second Employer Factor | 1 | 1 |
Important Information
If a CPP/QPP Group has incorrect values for the year, your remittances during the 2023 payroll year may be incorrect. Please contact Client Care for assistance.
Step 3: Select Exit.
Congratulations! Your CPP/QPP Groups are now ready for 2024. The next step in the year-end process is Verifying QPIP Rates.