** Archived Item **
Archived items are provided as an historical record. This article may not reflect current provisions.
2008 YMPE is $44,900
The federal government has announced that it has set the year’s maximum pensionable earnings (YMPE) for 2008 at $44,900, an increase of $1,200 over the 2007 YMPE of $43,700.
The YMPE is an element in HOOPP’s pension formula. It is updated annually by the federal government and based on the average industrial wage in Canada.
Remember that HOOPP contribution rates will remain the same in 2008. Contribution rates are:
- 6.9 per cent of annualized earnings up to the year's maximum pensionable earnings (YMPE), which is $44,900 in 2008; and
- 9.2 per cent above the YMPE
HOOPP is in the process of updating our web and print materials to reflect this change.
December 2007