McGill Pension Plan - contributions

Regular contributions


Effective January 1, 2013:

  McGill contributes
% of basic earnings
You contribute
% of basic earnings
McGill University Pension Plan
*age 39 or less
*age 40 to 49
*age 50 to 65

5%
7.5%
10%

less 1.8% of basic earnings subject to QPP

5%
7%
8%

less 1.8% of basic earnings subject to QPP
Geographic full-time university plus 0.8% plus 0.5%

Effective January 1, 2014 (Part A Only):

Defined Contribution


McGill University Pension Plan
*age 39 or less
*age 40 to 49
*age 50 to 65
University
McGill contributes
% of basic earnings
less cost sharing
5%
7.5%
10%

less 1.8% of basic earnings subject
to QPP
Member
You contribute
% of basic earnings
plus cost sharing
5%
7%
8%

less 1.8% of basic earnings subject to QPP
Geographic Full-Time University plus 0.8% plus 0.5%
Cost-Sharing less 2.2% plus 2.2%
Defined Benefit
  McGill assumes cost of going-concern plus degree of solvency N/A

Additional voluntary contributions

Members of the McGill University Pension Plan ("Plan") who are over age 65 who have not settled their holdings and continue to be employed may elect to make Additional Voluntary Contributions (AVCs) in addition to their regular contributions to the Plan and receive an immediate tax relief at source.

Additional Voluntary Contribution - Election Form

Additional Voluntary Contribution - Information Sheet & FAQs

Members under age 65 may elect to direct contributions to the Group RRSP product which was offered to all members of the McGill University Pension Plan in January 2014.