Contributions

In Workday, pension contributions are calculated in Payroll.


Age bracket McGill contributes
% of basic earnings
You contribute
% of basic earnings
  • age 39 or less
5.0%* 5.0%*
  • age 40 to 49
7.5%* 7.0%*
  • age 50 to 65
10.0%* 8.0%*
 

*less 1.8% of basic earnings subject to QPP

*less 1.8% of basic earnings subject to QPP

Tenure Stream Clinical 

plus 0.8% plus 0.5%
Defined Contribution


Age bracket
 
McGill contributes
% of basic earnings
less cost sharing
You contribute
% of basic earnings
plus cost sharing
  • age 39 or less
5.0%* 5.0%*
  • age 40 to 49
7.5%* 7.0%*
  • age 50 to 65
10.0%* 8.0%*
  *less 1.8% of basic earnings subject to QPP *less 1.8% of basic earnings subject o QPP
Tenure Stream Clinical  plus 0.8% plus 0.5%
Cost-Sharing less 1.9% (since September 2018) plus 1.9% (since September 2018)
Defined Benefit
  McGill assumes cost of going-concern plus degree of solvency N/A

 

Members of the McGill University Pension Plan (“Plan”) who are over age 65 who continue to be employed by the University may elect make AVCs to the Plan and receive an immediate tax relief at source. It is important to note that the University does not match AVCs. For more information, please refer to the PDF icon Additional Voluntary Contribution - Information Sheet
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