Your 2014 contribution rates

January 02, 2014

Contribution increases to your Teachers' pension, announced in 2011 by the Ontario Teachers' Federation and Ontario government, were phased in over a three-year period beginning in 2012. The final of three increases, 0.35%, occurs in 2014.

In 2014, the maximum amount of salary on which you contribute to the Canada Pension Plan (CPP) is $52,500. On your salary up to the CPP limit, you will contribute 11.5% to your Teachers' pension. On your salary above the CPP limit, you will contribute 13.1% to your Teachers' pension.

Contributions are matched by the Ontario government and designated employers on behalf of all members. The rates are in effect January 1, 2014.

How will the 2014 contribution rate affect you?

The impact of the contribution rate will vary from person to person, depending on how much each person earns.

This chart shows the total contributions that will be deducted in 2014 for your Teachers' pension based on various gross salaries. You can see how 2014 compares to the prior two calendar years.

Annual salary Annual contributions
  2014 2013* 2012**
$30,000 $3,450 $3,345 $3,240
$40,000 $4,600 $4,460 $4,320
$50,000 $5,750 $5,575 $5,400
$60,000 $7,020 $6,833 $6,638
$70,000 $8,330 $8,108 $7,878
$80,000 $9,640 $9,383 $9,118
$90,000 $10,950 $10,658 $10,358
$100,000 $12,260 $11,933 $11,598

*Numbers calculated used the 2013 CPP limit of $51,100
**Numbers calculated used the 2012 CPP limit of $50,100.