Question
Employees CPP2 not calculated correctly for 2025 T4
A major error identified - whether it is pensionable earnings setting relating to CPP2.
In reconciling our employee T4's we found that employee's CPP pensionable earnings in BOX 26 and therefore BOX16 CPP were incorrect. It also affects the employee's Employment Income total in Box 14. The employees affected are all those who were between the CPP Max and CPP2 max. We contacted Intuit and no one was able to assist in determining why. I am still waiting to hear back as it was supposed to be escalated.
Has anyone found that their CCP2 for people between the CCP MAX and CCP2 Max earnings are incorrect for tax year 2025?
CPP2 formula: (Box 26 - $71,300) x 4%