Sentences with phrase «pensionable earnings»

In Shaw v. Healthcare of Ontario Pension Plan, the question at issue was whether retention bonuses promised to an employee should be considered pensionable earnings under his pension plan.

In July 2010, he brought an application for a declaration that the retention bonuses were pensionable earnings.

The court looked at the funding effect on the plan of having these bonus payments included as part of pensionable earnings.

He argued the retention bonuses should be included in his pensionable earnings, which would have increased his pension entitlement significantly when factoring in his best five years earnings.

by the end of 2023, CPP contributions will rise by 1 % (to 5.95 % of pensionable earnings) for both employers and employees;

income replacement benefits will increase from one - quarter (25 %) to one - third (33 %) of pensionable earnings or from the current maximum of $ 13,110 to approximately $ 27,000 per annum.

The first additional contribution rate is also applied on pensionable earnings up to the Year's Maximum Pensionable Earnings (YMPE) for that year.

CPP Maximum 2011 2011 CPP Rates The CPP Rate, effective January 1, 2011, remain unchanged at 4.95 % of pensionable earnings.

Effective January 1, 2009, public service pension plan contributions will be 5.2 % (to a maximum of $ 2,407.60 for the 2009 taxation year) on all pensionable earnings below and equal to the yearly maximum pensionable earnings (YMPE)($ 46,300 for the 2009 taxation year) and 8.4 % on all pensionable earnings over the YMPE.

The CPP Rates, effective January 1, 2013, forecast to remain unchanged at 4.95 % of pensionable earnings.

Your CPP amount depends essentially on averaging your contributions and «pensionable earnings» from age 18 until the point you start taking CPP.

Malcolm Hamilton, a senior fellow at the C.D. Howe Institute, says the $ 3,500 minimum threshold was likely chosen for administrative convenience (the CPP also has a minimum $ 3,500 pensionable earnings).

Currently, the CPP plan pays out about 25 per cent replacement benefits on up to $ 51,100 of pensionable earnings, resulting in a maximum annual benefit of $ 12,150.

The major difference is that it would not double the pensionable earnings limit, or create a separate category for lower income workers, hence it is far simpler.

The bottom line is that at the top end, those with pensionable earnings of $ 102,000, annual benefits would rise from the current $ 12,150 to about $ 23,400.

Because it is aimed at the middle class, the Sheridan plan calls for no changes in either benefits or contribution rates for employees on the first $ 25,500 or so of pensionable earnings.

David Trahair: Yeah, basically it's tied to the year's maximum pensionable earnings amount.

So, the governments, the federal and provincial governments got together and made changes including increasing the contribution rate, it's now 4.95 % up to the yearly maximum pensionable earnings.

CPP calculations are based on averaging your contributions and «pensionable earnings» from age 18 until you start taking the benefit.

Enhancement to CPP / QPP on earnings between 50 per cent and 100 per cent of the year's maximum pensionable earnings threshold, with the ability for employers to provide a comparable workplace retirement plan in lieu.

But if you plan to go back to school, stay home with children, or earn less than the year's maximum pensionable earnings (YMPE), which is $ 51,100 for 2013, you may fall short of the maximum and so will your CPP cheques.

This will lower your average pensionable earnings, which in turn will make your benefit go down.

The federal and provincial governments are looking at a possible increase in the $ 55,000 cap on annual maximum pensionable earnings, which would result in both higher premiums and increased pension benefits.

Even after CPP is fully expanded, it will cover off only about a third of your working income (a rise from 25 % of pensionable earnings which it has been doing).

This could be accomplished through a modest increase in premiums for Canadians who earn between 50 per cent and 100 per cent of the yearly maximum pensionable earnings under the CPP — in other words, people with incomes of between $ 27,450 and $ 54,900.

The rise of contribution minimums could require employers to rethink pension formulas if they are based on yearly maximum pensionable earnings, said Malone.

Retirement benefits would be 25 per cent of the average pensionable earnings a worker earned in his or her lifetime.

For the self - employed, the contribution rate would be 3.6 per cent of pensionable earnings, as they were to pay both employee and employer shares.

This led to an increase in the Ontario Government's matching contribution from 8.9 % to 12 % of income above maximum pensionable earnings under the CPP.