Canada Pension Plan (R.S.C., 1985, c. C-8)

Act current to 2014-10-15 and last amended on 2014-10-09. Previous Versions

Marginal note:Interest on unpaid contributions
  •  (1) Where the amount paid by a person on or before the person’s balance-due day for a year on account of contributions required to be made by the person for the year in respect of the person’s self-employed earnings is less than the amount of the contribution so required to be made, interest at a prescribed rate per annum is payable by the person on the difference between those amounts from the balance-due day for the year to the day of payment.

  • Marginal note:Interest on instalments

    (2) In addition to any interest payable under subsection (1), where a person, being required by section 33 to pay a part or instalment of a contribution, has failed to pay all or any part thereof as required, he shall, on payment of the amount he failed so to pay, pay interest thereon at a prescribed rate per annum from the day on or before which he was required to make the payment to the day of payment or the beginning of the period in respect of which he is liable to pay interest thereon under subsection (1), whichever is the earlier.

  • Marginal note:Limitation for farmers and fishermen

    (3) For the purposes of subsection (2), where a person is required by subsection 33(2) to pay a part or instalment of a contribution in respect of the person’s self-employed earnings, the person shall be deemed to have been liable to pay on or before the day referred to in subsection 33(2) a part or instalment computed by reference to

    • (a) the contribution required to be made by the person for the year in respect of the person’s self-employed earnings, minus forty dollars,

    • (b) the contribution required in respect of the person’s self-employed earnings for the preceding year, or

    • (c) the amount stated to be the amount of the instalment payable by the person for the year in the notice, if any, sent to the person by the Minister,

    whichever method gives rise to the least amount required to be paid by the person on or before that day.

  • Marginal note:Limitation for other persons

    (4) For the purposes of subsection (2), where a person is required by subsection 33(3) to pay a part or instalment of a contribution in respect of the person’s self-employed earnings, the person shall be deemed to have been liable to pay on or before each day referred to in subsection 33(3) a part or instalment computed by reference to

    • (a) the contribution required to be made by the person for the year in respect of the person’s self-employed earnings, minus forty dollars,

    • (b) the contribution required in respect of the person’s self-employed earnings for the preceding year,

    • (c) the amounts determined under paragraph 33(3)(b) in respect of the person for the year, or

    • (d) the amounts stated to be the amounts of instalment payable by the person for the year in the notices, if any, sent to the person by the Minister,

    whichever method gives rise to the least total amount of those parts or instalments required to be paid by the person by that day.

  • R.S., 1985, c. C-8, s. 34;
  • 1991, c. 49, s. 211;
  • 1993, c. 24, s. 146;
  • 1994, c. 21, s. 124.