This calculator provides rough estimates only. No tax implications have been considered. Estimates are not guaranteed. Your pension contributions are governed by OPTrust, provincial law, The Canada Pension Plan (CPP), and federal law.
Right now, members invest 15.35 to 18.15 per cent of their pay in OPTrust and CPP. For you, that’s roughly:
Factor 80 Surplus: Members deemed surplus by the employer are eligible for a combination of age and years of service total 80 years. It will increase members’ pension investment by 0.2 per cent. For you, that’s roughly:
Factor 85: A combination of age and years of service totaling 85 years. It will increase members’ pension investment by 1.2 per cent. For you that’s roughly:
Factor 80: A combination of age and years of service totaling 80 year. It will increase members’ pension investment by 2.8 per cent. For you, that’s roughly:
Right now, members invest 9.4 per cent of their annual pay up to $74,600. For your salary, that’s roughly:
The Factor 80 proposal increase your investment from 9.4 per cent to 9.6 per cent. For your pay up to $74,600, that would be roughly:
The Factor 85 proposal increase your investment from 9.4 per cent to 10.6 per cent. For your pay up to $74,600, that would be roughly:
The Factor 80 proposal increase your investment from 9.4 per cent to 12.2 per cent. For your pay up to $74,600, that would be roughly:
For any pay above $74,600, members right now invest 11 per cent . For your salary, that’s roughly:
For any pay above $74,600, investment would increase from 11 percent to 11.2 per cent. For your salary, that’s roughly:
For any pay above $74,600, investment would increase from 11 percent to 12.2 per cent. For your salary, that’s roughly:
For any pay above $74,600, investment would increase from 11 percent to 13.8 per cent. For your salary, that’s roughly:
No changes are proposed to investments in CPP. For annual pay up to $74,600, members invest 5.95 per cent. For your salary, that’s roughly:
For any pay above $74,600, members invest 4 per cent. For your salary that’s roughly:
Based on your annual salary of:
you’re investing in OPTrust and CPP every year:
And this is roughly what you’re investing in OPTrust and CPP every paycheque:
