Contributions

How do the contributions work?

Canada Post makes a base contribution each pay, even if you do not contribute. The amount of the contribution is based on your pensionable earnings.

You can contribute 1%, 2%, 3%, or 4% of your pensionable earnings through payroll deductions. If you do, Canada Post provides additional matching contributions as a percentage of your own contributions, based on your age and years of continuous service at the time the contribution is made.

By maximizing your contributions, you receive the full benefit of Canada Post’s matching contributions and your account balance grows faster. If you don't take advantage of the matching contributions, you are passing up an opportunity to maximize your retirement account.

You can also make voluntary contribution through the VSP by payroll deductions or in lump-sum transfers.

When will my contributions to the Plan begin?

Your contributions and Canada Post's will begin on the first day you are eligible to join the DC pension.

If you elect to make voluntary contributions to the VSP, your contributions will start on the first day of the pay period immediately following the day your enrolment form is received by Canada Post.

How much can I contribute?

You can contribute 1%, 2%, 3%, or 4% of your pensionable earnings through payroll deductions. If you do, Canada Post provides additional matching contributions as a percentage of your own contributions, based on your age and years of continuous service at the time the contribution is made.

You can also make voluntary contribution through the VSP by payroll deductions or in lump-sum transfers.

Can I change my contribution level after I’ve started contributing?

Yes, simply fill out the DC Payroll Deduction Authorization form and send it to the address at the bottom of the form.

You may change your contribution percentage once every six months. Some exceptions may apply in the case of a leave of absence.