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Employers’ Participation in the Pension Plan

Members of the company eligible for payment of the insurance contribution and insured under plan A receive each fall a notice informing them that they may voluntarily participate in the pension plan if they are employed by the company with which they are associated. Except for hours worked as an employee, "members of the company" are not obliged to contribute to the pension plan. However, they may not participate solely in the pension plan.

Voluntary contributions by "members of the company" must not bring the total hours contributed to the pension plan to more than 2080 hours, including hours worked as an employee (including hours declared as a “designated representative registered as employee” and as a “paid administrator”).

Important notes:

  • Changes have been made to the pension plan. Since January 1, 2005, the contributions made to the general account have been used manily to pay down the deficit in the plan; these contributions are not accumulating new pension funds. Only contributions to the complementary account you are used to accumulate a pension.
  • Before participating voluntarily in the pension plan, "members of the company" should consult their accountant or tax lawyer to ensure that their contribution does not exceed the limits allowed by the Canada Revenue Agency (CRA);
  • Income Tax slips (T4, Relevé 1, etc.) reflecting a "member of the company’s" participation in the pension plan must be produced by his or her employer.

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