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Contribution rate change in 2010
In June, the OMERS Sponsors Corporation (SC) announced changes
to OMERS contribution rates effective January 1, 2010.
Beginning with the first, full pay in 2010, the rates will be as follows:
|
Normal retirement age 65 members |
On earnings up to CPP earnings limit* |
6.4% |
|
On earnings over CPP earnings limit* |
9.7% | |
|
Normal retirement age 60 members |
On earnings up to CPP earnings limit* |
7.9% |
|
On earnings over CPP earnings limit* |
13.1% |
* CPP earnings limit in 2010 is $47,200
Advise your payroll service of the change in the CPP earnings limit (YMPE) every year and the change in the contribution rate this year. The YMPE for 2010 is $47,200.