You may be interested to hear this terrific post-budget interview by Glen Hansman with Stephen Quinn, host of CBC Radio’s Early Edition.
If you are checking your pay statement each month you will notice you are paying quite a number of deductions for a variety of reasons.
Canada Pension Plan (CPP) and Employment Insurance (EI) have maximums that you pay each year and once you have reached that number the district stops taking those deductions each month. By September or October, you hit this maximum and you experience a slight increase in your net pay for the remainder of the fiscal year.
Conversely, at the beginning of the next fiscal year, your deductions for CPP and EI are re-applied and you experience a decrease in your net pay.
This is a good reminder to check your pay statement each month.
The pay statement at the end of the month has all the details on it. Things to watch for are sick bank increasing properly (1.5 days per month if 1.0 FTE), correct pay category and step, all benefits that you think you are paying should be listed (MSP, Extended health, Dental) and finally superannuation (Teacher Pension).
If you have questions please contact Craig at the ADTA office, We would be happy to look into your pay stub and help you with whatever questions you may have.