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Wilfrid Laurier University Human Resources
October 24, 2014
 
 
Canadian Excellence

Upcoming Pension Plan Changes



The following pension plan changes apply to members of WLUSA/OSSTF, Senior Executives, the Management Group, Confidential Professional Administrative Group, Professional Administrative Group and Special Constables:

Pension Plan Eligibility 

  • Mandatory enrollment for all eligible full-time employees hired after July 1, 2014.

 

Pension Plan Contribution Increases

  • Effective January 1, 2015: member contributions will rise to 8% (from 7.5%) for earnings below the YMPE and 9.5% (from 9%) for earning above the YMPE.
  • Effective January 1, 2016: member contributions will be 8% for earning below the YMPE and will rise to 10% (from 9.5%) for earnings above the YMPE. 

  • YMPE = Year’s Maximum Pensionable Earnings ($52,500 in 2014)

 *As an offset to the pension plan and post-retirement benefit changes, employees will be provided with a 0.5% in-base salary increase in January 1, 2015, January 1, 2016 and January 1, 2017.

For more information please see the Frequently Asked Questions