Pension Contribution Rate Increase

January 2nd, 2013

Effective with your first pay cheque dated January 2013, the contribution rates for the Pension Plan will increase by 1%.

If you participate in the Disability Income Plan, the rates will be:

  • 8.3% up to the CPP Yearly Maximum Pensionable Earnings (YMPE $51,100 in 2013) and 9.5% on earnings above the YMPE.

If you do not participate in the Disability Income Plan, the rates will be:

  • 8.4% up to the CPP Yearly Maximum Pensionable Earnings (YMPE $51,100 in 2013) and 9.6% on earnings above the YMPE.

Employers are required to match employee contributions.