Remittance Calculator

Remittance Calculator for Ordained & Diaconal

Using this Calculator

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

FOR PART TIME EMPLOYEES:
Either:
– enter the equivalent FULL TIME stipend and then the percentage of hours worked, OR;
– enter the actual PART TIME stipend and leave the percentage box blank

IMPORTANT NOTE – Basic stipend does NOT include housing allowance, manse value, or utility allowances. We understand that the added 60% may not equal exactly what is paid for these amounts. This figure is used for pension purposes.

(Basic Stipend)
	+   60%   =	MQI		% (Enter if part-time)

PENSION REMITTANCE

GROUP INSURANCE REMITTANCE

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

CONGREGATIONAL ASSESSMENT – 5% of congregation’s $base figure

12% EMPLOYER SHARE REMITTANCE (Church’s Share of Pension)
(applicable to ministers working outside a congregation without a $base figure)

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.

‘Stipend’ shall include an allowance of 60% of actual stipend paid, which shall be in lieu of housing, utilities and other

allowances, where these are authorized as part of the minimum earnings by the General Assembly.

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.