Pension Plan Contribution Increase

January 1st, 2003

Effective January 1, 2003

The Board has approved an increase of .5% in the Pension Plan contribution rate for both employees and employers.

If members participate in the Disability Income Plan the rates will be:
5.3% (was 4.8%) on earnings up to the Canada Pension Plan (CPP) maximum.
plus
6.5% (was 6%) on earnings above the CPP maximum.

 

If members do not participate in the Disability Income Plan the rates will be:
5.4% (was 4.9%) on earnings up to the CPP maximum
plus
6.6% (was 6.1%) on earnings above the CPP maximum.

The employer matches contributions.