Reminder: LAPP 2012 Contribution Rate Increase
January 4, 2012
Effective January 1, 2012, contribution rates for members and employers of the Local Authorities Pension Plan (LAPP) increased. A small increase is also planned for 2013.
What are the contribution rates?
|
2011 |
2012 |
2013 |
|
|
Members' Rate up to YMPE* |
8.49% |
8.91% |
9.43% |
|
Members' Rate over YMPE |
12.13% |
12.74% |
13.47% |
|
Employers' Rate up to YMPE |
9.49% |
9.91% |
10.43% |
|
Employers' Rate over YMPE |
13.13% |
13.74% |
14.47% |
* YMPE refers to the Year's Maximum Pensionable Earnings level determined by the Canada Pension Plan annually. In 2012, the YMPE is $50,100.00.
Click here for the news item on the 2012 and 2013 increases.
