PR PIER Report Updated to Support CPP2 (Canada)

Report ID: 1240

In support of the CPP2 functionality added in an earlier release, the PR PIER Report now calculates and displays aggregate amounts for the CPP2 deduction and related pensionable earnings, and includes those amounts in relevant totals on the report, allowing you to assess the sufficiency of cumulative year-to-date CPP2 payroll deductions.

Changes made to this report include the addition of a new Actual Payroll Amounts section showing the Total Pensionable Earnings (T4 Box 26), CPP2 Pens. Earnings, CPP2 Contrib. Earnings, Emp's CPP2 Contributions, Required CPP2 Contributions, and CPP2 Discrepancy amounts.

Beginning in tax year 2024, the T4 Box 26 amount is now a sum of pensionable earnings for CPP and contributory earnings for CPP2. Therefore, the existing report column that was previously labeled CPP Pens. Earnings (T4 Box 26) has been relabeled to CPP Pens. Earnings, reflecting that the displayed value represents pensionable earnings for (legacy) CPP only.

For more information about this report, see PR PIER Report.

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