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Required contributions

When you become eligible for the plan, you automatically become a member accruing service, unless you elect, in writing, to do otherwise. Those hired after January 1, 2018, can defer accruing service for two years, after  which enrollment becomes mandatory. 

As a member accruing service, you contribute to the plan and accumulate  pension benefits according to the formula  below. The university also contributes to your pension according to a percentage of your earnings.

If you choose to be a member not accruing service, you do not contribute to the plan, nor does university on your behalf.

The Concordia intranet gives you access to the Pension Projection Tool.  It may help you understand the effect of accruing or not accruing service. Use your Concordia web credentials to sign on at:

If you are a...                        

You contribute the following amount annually...

Non accruing member Nothing
Accruing member

7.5% of your pensionable earnings up to the YMPE***


9% of any pensionable earnings in excess of the YMPE***

Contributions are made by regular payroll deductions. Your contributions are tax deductible, subject to limits set by the Income Tax Act and other regulations.

2018 YMPE*** = $55,900

Member accruing service in the pension plan is an irrevocable status.

A member not accruing service in the pension plan can change status and enroll later on. You would need to submit your written request to Pension Services by the end of November and wait for the start of the following calendar year. 

You may not withdraw your contributions. Pension laws state you can only use your accumulated pension plan benefits for retirement income, unless your employment ends.

In addition, you may not:

  • assign your contributions;
  • borrow against your contributions or earned benefits (e.g., as loan collateral); or
  • use the contributions for anything that is not directly related to obtaining a pension.
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