PENSION CONTRIBUTION RATES 2016

[CountDC]

CANFORGEN 221/15 CMP 100/15 111922Z DEC 15
PENSION CONTRIBUTION RATES FOR MEMBERS OF THE PART I CAF PENSION PLAN (FULL TIME) FOR CALENDAR YEAR 2016
UNCLASSIFIED

REFS: A. CANFORGEN 238/12 CMP 113/12 121812Z DEC 12
B. CANFORGEN 250/12 CMP 117/12 211435Z DEC 12
C. CANFORGEN 008/13 CMP 005/13 222043Z JAN 13
D. CANFORGEN 213/14 CMP 100/14 161808Z DEC 14

THE PURPOSE OF THIS CANFORGEN IS TO INFORM CAF MEMBERS OF THE INCREASE IN PENSION CONTRIBUTION RATES, AS ANNOUNCED BY TREASURY BOARD, TO TAKE EFFECT 1 JANUARY 2016 FOR THE CALENDAR YEAR 2016

REG AND RES F MEMBERS WHO CONTRIBUTE TO THE FULL-TIME PENSION PLAN (CFSA PART I) WILL PAY 9.05 PERCENT UP TO THE C/QPP MAXIMUM AND 11.04 PERCENT ON EARNINGS ABOVE THIS MAXIMUM. THIS REPRESENTS AN INCREASE OF 0.9 PERCENTAGE POINTS AND 0.64 PERCENTAGE POINTS RESPECTIVELY. THE MAXIMUM EARNINGS COVERED BY C/QPP FOR 2016 WILL BE 54,900 DOLLARS

BY WAY OF ILLUSTRATION, A MEMBER EARNING 60,000 DOLLARS WILL PAY 9.05 PERCENT ON THE FIRST 54,900 DOLLARS OF EARNINGS AND 11.04 PERCENT ON THE REMAINING 5,100 DOLLARS OF EARNINGS. THIS MEMBER WOULD SEE A MONTHLY INCREASE OF 41 DOLLARS AND 65 CENTS IN CONTRIBUTIONS OVER 2015 CONTRIBUTIONS

THESE RATES WILL BE APPLIED ON THE 15 JANUARY 2016 PAY

THIS ADJUSTMENT DOES NOT AFFECT CONTRIBUTIONS TO THE RESERVE FORCE PENSION PLAN (CFSA PART I.1) RATES WHICH WILL REMAIN AT 5.2 PERCENT OF PENSIONABLE EARNINGS

FOR MORE INFORMATION ABOUT CAF PENSION PLAN ARRANGEMENTS, INCLUDING CONTRIBUTION RATES, CONSULT THE CAF PENSIONS WEB PRESENCE AS FOLLOWS: HTTP://WWW.FORCES.GC.CA/EN/CAF-COMMUNITY-PENSION/INDEX.PAGE QUESTIONS MAY BE DIRECTED BY EMAIL TO: (PLUS SIGN)DPSP.PENSION.DPPS (AT SIGN)FORCES.GC.CA

There goes our future pay increase. 

 

[PuckChaser]

Merry Christmas, troops. PS. You're not getting a pay raise either.

$41 bucks a month (likely 50 at my pay scale) is my entire IPC increase this year.

 

[NavyShooter]

Top 2%......revenue neutral.....what buzzwords do we hit next?

 

[Eye In The Sky]

Merry Christmas, troops. PS. You're not getting a pay raise either.

$41 bucks a month (likely 50 at my pay scale) is my entire IPC increase this year.

Loyalty and GAFF will go down the equivalent amounts?  >

Come on, we are the easiest targets!  No union, can't strike and the average citizen thinks 'we don't pay taxes!!!!!!!'. 

 

[George Wallace]

Loyalty and GAFF will go down the equivalent amounts?  >

Come on, we are the easiest targets!  No union, can't strike and the average citizen thinks 'we don't pay taxes!!!!!!!'.

Exactly.  As the largest Department in the Government, it is too easy to target.

 

[Nfld Sapper]

Exactly.  As the largest Department in the Government, it is too easy to target.

Guess we got one of these on our backs then.....

 

[DAA]

Loyalty and GAFF will go down the equivalent amounts?  >

Come on, we are the easiest targets!  No union, can't strike and the average citizen thinks 'we don't pay taxes or for our housing!!!!!!!'.

Fixed that for you above!

I don't mind paying into the plan but what I really really hate, is the huge chunk it takes out of my RRSP Contribution room.     

 

[Eye In The Sky]

I'll have to remind my mortgage broker I don't pay for housing when I renew next time!  :subbies:

 

[jollyjacktar]

Merry Christmas, troops. PS. You're not getting a pay raise either.

$41 bucks a month (likely 50 at my pay scale) is my entire IPC increase this year.

Just received my last IPC, the gross from the raise is less than what the net amount for the deduction will be.  So, two steps forward.  One step back.  Comes on my birthday too.  Gee, thanks.  Bastards...

 

[dapaterson]

This should come as a surprise to no one.  The contribution rates have been going up yearly for quite some time; in fact, there used to be limits under the law about how much contribution rates could be raised in a single year.  The last government eliminated that limit and started jacking up rates.

The ultimate goal is to have contributions cover half the cost of the pension plan.  (Well, that's not quite true.  CAF members will pay the same rates as the public servant, who are to be paying half the cost of the plan.  Since military pensions have fewer restrictions on when they can be drawn, military pensions cost more than PS ones, so if CAF and PS contributions are the same, CAF members are better off).

 

[Eye In The Sky]

Doesn't mean we have to be "happy" with no pay raise, cost of living going up regardless, and now $100 less in our bank accounts each month.  I love my country, but I still have bills, a mortgage and shit like that.  How about reducing government waste before taking more $ off my pay check.  It's not like I am going to be rich, but no need to ensure it won't happen anymore than the status quo.

But hey, lets keep giving billions of dollars to country X!

 

[FyroniK]

Doesn't mean we have to be "happy" with no pay raise, cost of living going up regardless, and now $100 less in our bank accounts each month.  I love my country, but I still have bills, a mortgage and crap like that.  How about reducing government waste before taking more $ off my pay check.  It's not like I am going to be rich, but no need to ensure it won't happen anymore than the status quo.

But hey, lets keep giving billions of dollars to country X!

Noone said we aren't getting a pay raise... out pay is tied to the collective bargaining agreement, which hasn't been signed since the last time we got a raise with backpay included as I assume will be when they finally get around to signing the next one.

The unions have been fighting the horrible conservative cutters on that subject for years now, maybe we will get a nice raise with them gone, who knows, of course problem being to raise one, means they have to raise them all which many people don't like to see in the media .

http://psacunion.ca/ct for updates on that.

 

[ModlrMike]

Noone said we aren't getting a pay raise... our pay is tied to the collective bargaining agreement...

I think the benchmark is "no less than" the PS as opposed to "tie to" the PS. An important distinction.

 

[PuckChaser]

Noone said we aren't getting a pay raise... out pay is tied to the collective bargaining agreement, which hasn't been signed since the last time we got a raise with backpay included as I assume will be when they finally get around to signing the next one.

The unions have been fighting the horrible conservative cutters on that subject for years now, maybe we will get a nice raise with them gone, who knows, of course problem being to raise one, means they have to raise them all which many people don't like to see in the media .

http://psacunion.ca/ct for updates on that.

Absolutely true. The Liberals have to pay PSAC back for their support during the election, so we may get some sort of unintended raise when the union gets their kickbacks.

 

[George Wallace]

Absolutely true. The Liberals have to pay PSAC back for their support during the election, so we may get some sort of unintended raise when the union gets their kickbacks.

I don't think the union is getting any kickbacks.  Union leadership maybe.  (Has a definite similarity to First Nations Chiefs)


Now on that "ACCOUNTABILITY" that the Liberals just decided to 'cancel'; why are none of those Conservative 'Haters" not questioning a decision by Trudeau to no longer hold fees paid to Unions and First Nations to be accountable and disclosed to the public?  You can hate Harper and/or the Conservatives all you want, but to turn a blind eye to this corruption is complete BS.

 

[McG]

I don't think the union is getting any kickbacks.  Union leadership maybe.  (Has a definite similarity to First Nations Chiefs)


Now on that "ACCOUNTABILITY" that the Liberals just decided to 'cancel'; why are none of those Conservative 'Haters" not questioning a decision by Trudeau to no longer hold fees paid to Unions and First Nations to be accountable and disclosed to the public?  You can hate Harper and/or the Conservatives all you want, but to turn a blind eye to this corruption is complete BS.

So, I understand that you like to find the opportunity to bring up your hate-on for the Liberals, but changes to financial reporting by unions and First Nations is a topic that has SFA to do with military pensions.  There is already another thread where those ideas are part of the subject and not a tangent.

 

[Pusser]

I think the benchmark is "no less than" the PS as opposed to "tie to" the PS. An important distinction.

The actual term is "comparability with the Public Service."  What this means is that there is essentially a formula that is applied to certain benchmarks within the Public Service.  The end result of applying the formula is CF Pay.  The formula takes into account that there are benefits applied differently to the the CF and Public Service (e.g. overtime, acting pay, sick leave, annual leave, etc).  As a general rule, whenever the Public Service gets a raise, we get a bigger one.  However, the collective bargaining process between Treasury Board and the Public Service unions has to be completed first.  i suspect that this will happen soon and we will see a pay raise that will be backdated to at least 1 Apr 14

 

[George Wallace]

So, I understand that you like to find the opportunity to bring up your hate-on for the Liberals, but changes to financial reporting by unions and First Nations is a topic that has SFA to do with military pensions.  There is already another thread where those ideas are part of the subject and not a tangent.

I was pointing at a similarity in what was happening.  Apparently my backing up a statement, with a fact only results in one of your contemptful responses, with every post I make. 

 

[Infanteer]

Meh, if I stick to my principles I am willing to eat this one.  I can't criticize what I perceive to be "gold-plated government pensions" if I receive on myself.  I'm fine with paying my share of a very good pension plan.

 

[MJP]

Meh, if I stick to my principles I am willing to eat this one.  I can't criticize what I perceive to be "gold-plated government pensions" if I receive on myself.  I'm fine with paying my share of a very good pension plan.

Aye, my thoughts exactly.