Pension contribution rates for the 3 major public sector pension plans
Contribution rates for the public service, the Canadian Armed Forces–Regular Force and the Royal Canadian Mounted Police pension plans will change as of January 1, 2024. These changes ensure the sustainability of the public sector pension plans.
Pension plan members contribute a percentage of their salary to the plans through payroll deductions.
Table of contents
Public service pension plan contribution rates effective January 1, 2024
Contribution Rates Table A applies to:
- public service pension plan members who were contributing to in the plan before January 1, 2013
- public service pension plan members who are employed or deemed to be employed in operational service with Correctional Service Canada
| From your salary… | In 2022, you contributed… | In 2023, you contributed… | In 2024, you will contribute… |
|---|---|---|---|
| On earnings up to the maximum covered by the Canada Pension Plan/Quebec Pension Plan ($68,500 in 2024) | 9.36% | 9.35% | 9.35% |
| On earnings over the maximum covered by the Canada Pension Plan/Quebec Pension Plan | 12.48% | 12.37% | 12.25% |
Note: Contribution rates are reduced to 1% of salary for all plan members who reach the maximum 35 years of pensionable service. |
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Contribution Rates Table B applies to:
- public service pension plan members who began participating in the plan on or after January 1, 2013
| From your salary… | In 2022, you contributed… | In 2023, you contributed… | In 2024, you will contribute… |
|---|---|---|---|
| On earnings up to the maximum covered by the Canada Pension Plan/Quebec Pension Plan ($68,500 in 2024) | 7.95% | 7.93% | 7.94% |
| On earnings over the maximum covered by the Canada Pension Plan/Quebec Pension Plan | 11.82% | 11.72% | 11.54% |
Note: Contribution rates are reduced to 1% of salary for all plan members who reach the maximum 35 years of pensionable service. |
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Why are the contribution rates in Table B different than those in Table A?
Employees who became public service pension plan members on or after January 1, 2013, are eligible for an unreduced pension at age 65. These plan members pay lower contribution rates because they must generally wait 5 years longer before they can access an unreduced retirement benefit (that is, the cost of their pension benefits will be lower, so their contributions will be lower than those who are eligible to receive unreduced pension benefits at age 60.)
More information
If you would like more information about how to calculate your pension, see the Public Service Pension Contribution Rates web page.
Canadian Armed Forces–Regular Force pension plan contribution rates effective January 1, 2024
| From your salary… | In 2022, you contributed… | In 2023, you contributed… | In 2024, you will contribute… |
|---|---|---|---|
| On earnings up to the maximum covered by the Canada Pension Plan/Quebec Pension Plan ($68,500 in 2024) | 9.36% | 9.35% | 9.35% |
| On earnings over the maximum covered by the Canada Pension Plan/Quebec Pension Plan | 12.48% | 12.37% | 12.25% |
Note: Contribution rates are reduced to 1% of salary for all plan members who reach the maximum 35 years of pensionable service. |
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More information
If you would like more information about how to calculate your pension, see the Canadian Armed Forces pensions web page.
Royal Canadian Mounted Police pension plan contribution rates effective January 1, 2024
| From your salary… | In 2022, you contributed… | In 2023, you contributed… | In 2024, you will contribute… |
|---|---|---|---|
| On earnings up to the maximum covered by the Canada Pension Plan/Quebec Pension Plan ($68,500 in 2024) | 9.36% | 9.35% | 9.35% |
| On earnings over the maximum covered by the Canada Pension Plan/Quebec Pension Plan | 12.48% | 12.37% | 12.25% |
Note: Contribution rates are reduced to 1% of salary for all plan members who reach the maximum 35 years of pensionable service. |
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More information
If you would like more information about how to calculate your pension, see the Pension and benefits for the Royal Canadian Mounted Police web page.
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