The engine can handle 16psi of boost (and more) all day long. Higher boost is beneficial to EGT as there's more air going into the engine.
However... the standard turbo (TD04-09B) is designed to be 100% reliable while making 12psi maximum. Higher than this will reduce the turbo's life, and the higher the boost and the longer it's sustained, the sooner the turbo will fail.
That said, if you're cruising on the freeway the turbo's probably only making 9-12psi of boost anyway, so it won't make much difference if you sometimes hit 16psi while climbing a hill. Just as long as the turbo spends most of its time below 12psi it should be fine.