Author Topic: PENSION CONTRIBUTION RATES 2016  (Read 16332 times)

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Re: PENSION CONTRIBUTION RATES 2016
« Reply #25 on: December 31, 2015, 14:15:32 »
Anyone new won't notice. Anyone already vested in the system get screwed. Anyone on the 30/30 plan doesn't care anyways.

Offline jollyjacktar

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Re: PENSION CONTRIBUTION RATES 2016
« Reply #26 on: December 31, 2015, 14:33:42 »
Au contraire, I am now, and have been for some years in the 30/30 bracket.  I care.  I hate belt fed from the man at anytime.  If I had already pulled the trigger to initiate the 30/30 count down, then yes, it would be moot.

Offline CountDC

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Re: PENSION CONTRIBUTION RATES 2016
« Reply #27 on: January 05, 2016, 18:38:43 »
Agree - on 30/30 plan and considering the option.

My only real beef with these increases is that they started just after the Liberals took billions out of the pension stating that the plan had more than enough money and the take out would not have an impact.  Next thng you know they announce increases as there wasn't enough money in the plan (which just happened to be what I predicted and everyone thought I was crazy.  Wish now I had just been crazy).
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Re: PENSION CONTRIBUTION RATES 2016
« Reply #28 on: January 05, 2016, 18:48:57 »
Agree - on 30/30 plan and considering the option.

My only real beef with these increases is that they started just after the Liberals took billions out of the pension stating that the plan had more than enough money and the take out would not have an impact.  Next thng you know they announce increases as there wasn't enough money in the plan (which just happened to be what I predicted and everyone thought I was crazy.  Wish now I had just been crazy).


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« Last Edit: January 05, 2016, 18:54:06 by George Wallace »
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Offline Pusser

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Re: PENSION CONTRIBUTION RATES 2016
« Reply #29 on: January 06, 2016, 07:58:45 »
Agree - on 30/30 plan and considering the option.

My only real beef with these increases is that they started just after the Liberals took billions out of the pension stating that the plan had more than enough money and the take out would not have an impact.  Next thng you know they announce increases as there wasn't enough money in the plan (which just happened to be what I predicted and everyone thought I was crazy.  Wish now I had just been crazy).

The increases in contribution rates had nothing to do with that.  The plan for the CFSA has always been that employee/employer contributions were to be much closer than they were.  The gradual increase in employee contributions over the last few years has simply been in order to bring things more into line with where they are supposed to be.
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Offline dapaterson

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Re: PENSION CONTRIBUTION RATES 2016
« Reply #30 on: January 06, 2016, 08:16:27 »
Gradual?  Contribution rates have more than doubled in the past 10 years.  Until 2011 (or possibly 12) there were restrictions in the law about how quickly rates were permtited to be changed - no more than 0.4% per year.  With that restrictor removed, contributions have grown significantly; this year, deductions on amounts up to the YMPE have increased 0.9%.

I support the increase in contributions to make the plans reach a 50/50 split (well, 50/50 for the public service; military and RCMP plans will contribute at the same rates but not reach that split), but we need to keep in mind the pain these changes cause.
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Re: PENSION CONTRIBUTION RATES 2016
« Reply #31 on: January 07, 2016, 11:00:26 »
To be honest, I've never really considered the percentage increases.  I've only looked at the dollar amounts.  I needed to drink less at Starbuck's anyway.
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Offline dapaterson

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Re: PENSION CONTRIBUTION RATES 2016
« Reply #32 on: January 07, 2016, 11:09:26 »
To be honest, I've never really considered the percentage increases.  I've only looked at the dollar amounts.  I needed to drink less at Starbuck's anyway.

It's the old "slow boil" technique, to keep the frog from hopping out of the pot.  Look at that "small increase", then multiply by 5 1/2, and it's not so small after all.
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Offline dapaterson

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PENSION CONTRIBUTION RATES 2017
« Reply #33 on: December 19, 2016, 12:27:36 »
And the Treasury Board has released the 2017 contribution rates.  Surprise!  They're increasing.

On amounts below YMPE, the rate will go from 9.05% to 9.47%; on amounts above YMPE, the increase will be from 11.04% to 11.68%.


https://www.tbs-sct.gc.ca/psm-fpfm/pensions/publications/notices-avis/2017-01-01-eng.asp
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Re: PENSION CONTRIBUTION RATES 2016
« Reply #34 on: December 19, 2016, 12:35:47 »
 >:(
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Offline kev994

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Re: PENSION CONTRIBUTION RATES 2016
« Reply #35 on: December 19, 2016, 13:51:13 »
Should make RRSPs easy, I ought to be at 0 contribution room by now.