Remittance Calculator Non-clergy

//Remittance Calculator Non-clergy
Remittance Calculator Non-clergy 2017-05-02T08:43:37+00:00

Remittance Calculator for Non Ordained Employees

Using this Calculator

FOR FULL TIME EMPLOYEES:
Enter the basic salary in the box below and press “Calculate”

FOR PART TIME EMPLOYEES:
Enter the actual PART TIME salary and press “Calculate”

Enter basic salary: + (H&D) $4,318 = MQI

PENSION REMITTANCE

MQI x 9% = /annum or /month

GROUP INSURANCE REMITTANCE

MQI x 0.60% = /annum or /month

Sales Tax is only remitted on Group Insurance if you live in the province of Ontario (8% HST) Quebec (9% QST) Manitoba (8% RST)

12% EMPLOYER SHARE REMITTANCE (Church’s Share of Pension)

MQI x 12.0% = /annum or /month

Tips:

If your calculation of the MQI is > $70,920 then you must use $70,920 as your MQI
If your calculation of the MQI is < $70,920 then you must use your calculated MQI

Definitions:

‘Maximum Qualifying Income’ for any calendar year means that maximum amount of Pensionable Income for such year,
such amount being set annually by The Pension and Benefits Board under the rules authorized by General Assembly.
The maximum amount for 2017 is $70,920 and the percentage is 9.0%.

‘Pensionable Income’ of a Member for any calendar year or part of a calendar year is the stipend or salary paid to such
Member by an Employer for that year or for that part of a year during which the Member is in Pensionable Service,
to a maximum equal to the Maximum Qualifying Income for such calendar year.

‘Salary’ shall include any emolument paid by the Employer in respect of premiums for the extended health care and dental
insurance plans, but shall not include any payments of bonus, overtime or other fluctuating emoluments.

We strive to provide great customer service and your input is important. If you have any comments about this form,
please email pension [at] presbyterian [dot] ca or phone at 1-800-619-7301, ext. #233.