What's new in Customer Journeys?

Connect and learn more!
Employees maxed on pension — Cloud Customer Connect
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Employees maxed on pension

Received Response
21
Views
4
Comments
edited Dec 21, 2023 6:57PM in Benefits 4 comments

Summary:

This employee contributes a volunteer PEPP of $150 per pay in addition to 7.75% of her gross pay and the employer matches the 7.75% amount as well. On the Dec 7 pay she had contributed $1530.68 as employee and $1530.68 the employer matched that as well as the $150 of volunteer PEPP. 

 

The max amount Canada Revenue Agency allows for pension is $31,560.00 and she has contributed $32,035.58 so she has over contributed by $475.58 ($237.79 on her side and $237.79 on the employer side). 

 

HCM should have stopped her pepp but it didn't.

to sum this up, may we know if where we can check the PEPP Pension Maximum Limit?

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!