Frequently Asked Questions
Your congregation will receive an Annual Congregational Assessment every year in the fall. This statement will show both an annual amount (total due by the end of the year) and a monthly amount (total divided into twelve equal payments). Congregations should remit according to their most recent Congregational Assessment. Congregational Assessment payments are due monthly.
If you have not received an Annual Congregational Assessment by November, please notify our office.
All questions regarding the dollarbase should be directed to the Financial Services office 1-800-619-7301 ext. 320. The Pension and Benefits Office cannot change the dollarbase.
The Pension and Benefits Office does not receive the information you sent to the National Office directly. We receive it from Financial Services after they have completed thorough checks on all statistical reports received from every congregation in Canada. As you can imagine, this is a labour intensive task, and therefore it takes time for our office to receive the information. Once we do, we have the Congregational Assessments in the mail as quickly as possible.
We hear this question a lot, and we certainly understand where our treasurers are coming from when asking it. If your dollarbase is relatively stable and doesn’t change much year to year, you should encounter no problems by sending in the monthly remittances from your previous year’s assessment. If your dollarbase has changed drastically, please contact us and we can help you determine a monthly remittance amount that makes sense.
Members contribute 9% of their MQI to the pension plan. The Group Insurance is based on a rate that is determined annually and approved by General Assembly.
The easiest way to calculate your member’s MQI to get these deductions is to use the worksheets from our website – we build the calculations into them to make it as easy as possible for you. You’ll just need to know the member’s stipend or salary to begin.
The 2017 Calculation Adjustment Worksheets can be found below:
These are posted on our website – click here.
The new MQI and rates are also emailed to congregational treasurers every year. If you did not receive the email or have difficulty opening it, you can always call or email our office.
The MQI (Maximum Qualifying Income) is the maximum income used to calculate contributions and pensions. This figure is calculated as follows:
- For Clergy – the MQI is Basic Stipend + 60%. The 60% is meant to account for house allowance, utility allowance, and/or manse value. It is important that the MQI is calculated by adding 60% to the basic stipend and not using the actual values for those items, even if they are significantly higher or lower.
- For Other Employees – the MQI is Salary + Health and Dental Premium.
It is important to not get a member’s MQI confused with the MQI limit set by General Assembly every year. They can sometimes be one in the same, if a member’s MQI calculation works out to be higher than the MQI limit, then the limit is used.
The easiest way to do this is to divide the total contribution due that year by the number of pay periods for your member, and deduct the same amount. The contributions then need to be sent to our office monthly, meaning that they won’t necessarily be the same month to month, but this is fine so long as they are regular.
For members over the age of 65 there is a reduction in the cost and coverage of group insurance. Please contact our office for more details.
The MQI is calculated by adding 60% to the basic stipend in place of housing allowance/manse value, and is therefore unaffected if those figures change.
The Congregation Code is the same as the Employer Code – it is found on your Annual Pension Plan Congregational Assessment and is typically two letters that correspond with your presbytery and a three digit number. If you are unable to find your Congregation Code call or email our office.
If there is no member at your congregation, these fields can be left blank. Also leave the fields at the bottom for “Pension Contribution”, “Basic Group Insurance” and “Optional Group Insurance” blank.
Absolutely! We are happy to accept post-dated cheques. Payment can also be made in advance for the full year.
Cheques for Presbyterians Sharing or PWS&D can be sent in the same envelope as your pension remittance, but the funds cannot be included in the same cheque.
Pension contributions must be remitted monthly, but there is no specific day of the month that they are due.
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Glossary of Pension and Benefits Terms