How pension contributions work

You contribute to your pension through automatic payroll deductions. Your employer also contributes to your pension.

1. Will my contribution rate increase?

3. How are contributions invested?

2. Does my employer contribute?

How much do I contribute?

As an active member, you contribute to your pension through automatic deductions from each paycheque. (If you have reached 35 years of pensionable service or are on long-term disability, you may no longer be contributing.)

You contribute a flat rate on all salary based on your member group:

Group 1 (all plan members who are not police officers or firefighters): 8.61%
Group 2 (police officers and firefighters not in group 5): 8.92%
Group 5 (police officers and firefighters not in group 2): 11.12%

Your contribution includes a portion that is transferred to a fund called the inflation adjustment account.

This account is used to pay for cost-of-living adjustments, or COLA, on current retiree pensions. COLA is not guaranteed but, once granted, becomes part of your lifetime pension.

You may also be contributing to a special agreement.

If you have 35 years of pensionable service, you will no longer contribute to the plan. However, you are an active plan member until you leave your job or retire.