Reminder: Pension contribution rate increase effective January 1, 2014 for the three major public sector pension plans

Since 2006, employee contribution rates for the public service pension plan, for Regular Force members of the Canadian Forces pension plan and the Royal Canadian Mounted Police pension plan have gradually been increasing to reflect the Government of Canada’s movement towards a more balanced cost-sharing ratio. As announced in Budget 2012, contribution rates will continue to increase over time. For more information, see the news release ‘Public Sector and MPs to Pay their Fair Share of Pension Contributions’.

You contribute a percentage of your salary to the public sector pension plans through payroll deductions. The contribution rate tables below show what the rates were for 2013 and what the rates will be in 2014.

Contribution Rate Table AFootnote 1 below applies to the following plan members:

  • Public service pension plan members who were participating in the plan before ;
  • Public service pension plan members with operational services with Correctional Services of Canada (employees who participate in the plan before and after );
  • Regular members of the Canadian Forces pension plan (Part 1); and
  • Royal Canadian Mounted Police pension plan members.
Contribution Rates Table A for 2014
On your salary...

In 2013, you contributed…

In 2014, you will contribute…

Up to the year's maximum pensionable earnings ($52,500 in 2014)

6.85%

7.50%

Above the year's maximum pensionable earnings

9.20%

9.80%

Contribution Rate Table BFootnote 1 below applies to public service pension plan members who began participating in the plan on or after .

Contribution Rates Table B for 2014
On your salary...

In 2013, you contributed…

In 2014, you will contribute…

Up to the year's maximum pensionable earnings ($52,500 in 2014)

6.27%

6.62%

Above the year's maximum pensionable earnings

7.63%

7.89%

Why are the contribution rates in Table A different than those in Table B?

Employees who become public service pension plan members on or after , are eligible for an unreduced pension at age 65. These plan members will pay lower contribution rates because they must generally wait 5 years longer before they can access a retirement benefit (i.e. they receive a benefit that has a lower overall value and cost and therefore do not pay as much as those who are eligible to an unreduced pension at age 60).

More information about the public service pension plan is available on Your Public Service Pension and Benefits Web Portal.

More information about the Canadian Forces Pension is available on the National Defence and the Canadian Forces Web site.

More information about the Royal Canadian Mounted Police pension plan is available on the RCMP Pension Web site.

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