Canada Pension Plan Schedule

Effective as of year 2012

Please Note:  Effective January 1, 2012, the Canada Revenue Agency ("CRA") will be making changes to the Canada Pension Plan ("CPP") which will affect individuals between 60 and 70 years of age and actively working. Prior to January 1, 2012, an employee between 60 and 70 years of age has been allowed to stop making CPP contributions upon providing proof that he or she is receiving a CPP retirement pension.

Under the new rules, all employees between the ages of 60 and 70 years who work must contribute to the CPP, even if in receipt of a CPP retirement pension, unless the employee is between 65 and 70 years of age and has filed an election to stop making CPP contributions by providing the employer a signed CPT30 form (available at http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/clcltng/cpp-rpc/cppchng-nstrctn-eng.html).

If you wish to complete a CPT20 form and have it take effect on January 1, 2012, the signed and completed form must be received by the Human Resources Service Centre at the Campus Services Building, room 202 no later than Friday, December 23, 2011. Otherwise, your election will take effect on the first of the month following receipt of the above form by our office.

Department Managers: This will have an impact on your budgets as there is an employee/employer contribution match as indicated above.