2016 maximum deductible pension contribution limits
Each year, Canada Revenue Agency sets a maximum that members can claim on their tax return for pension plan contributions. The 2016 maximum is $18,787. For detailed information on maximum deduction limits and what you need to do, check out this Employer Bulletin.
Are your Web Services users current? Because protecting member data online is important, we update our records to make sure we maintain security. To do this, we need your help. Please let us know if we need to change or add Web Services users for your organization. It’s easy and only takes minutes. Read on for details.
Member address changes
Thousands of reasons why we need current member contact information
People move—a lot. Although it can be difficult to keep up with member address changes, it’s important we have correct information on file. We process thousands of returned mail each year. Working together, we can make communicating vital information to members easier.
Why it’s important
Members need to receive different types of communications. If an address is incorrect in our system, they might not receive key information such as a pension estimate, pension adjustment statement or Member’s Benefit Statement.
What you can do
Submit updated member addresses when you receive them. There’s no need to wait until year-end or until the member stops working or retires. But, before you do, please confirm with your employee that they haven’t already updated their contact information with us.
To make an address change:
For a single member—correct the address on an Update Existing Plan Member Record (on the Employer Reporting home page).
For multiple members—update address information using a report. (See our instructions on preparing and submitting reports, available in the Reporting Format area under Employer Reporting.)
Remember to enter pensionable earnings to the penny—not to the dollar. (We announced this enhancement April 2015.) Take the salary information straight from your payroll reports. This will make your remittances and your balancing process more accurate.
Want to host a pension information seminar in your community?
Do you have staff interested in attending a pension information seminar, but there isn’t one scheduled near your community? If you have 20 or more staff, we can present one at your workplace.
Don’t have 20 or more staff?
Consider partnering with another Teachers' Pension Plan employer in your community to coordinate hosting a seminar.
If you are remotely located, you can request a webinar.
We are taking requests now for fall 2016 and spring 2017.
We do not charge you to host a seminar.
Please provide a suitable room with a projection screen.
Your staff are also welcome to attend one of our free seminars hosted throughout the province.
These free workplace seminars are advantageous for you and your staff. They are a great opportunity for your staff to learn more about their pension and plan for retirement—without leaving town. And, knowledgeable staff are more engaged and understand the benefits of being in the plan.
Results from last spring’s employer advocacy survey are now in. You believe the plan has value to your employees but, while you have a role to play in communicating about it, you don’t always know where to find the information. Read on for details.
This article has information you need to act on
Information in this article is of interest to you and/or your staff