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Main -> Superannuation Plan -> Contributions
Contribution Rate
Teachers who are members of the Plan contribute by payroll deduction for a maximum of 35 years or until retirement or termination of employment. The contribution rate for the Teachers Superannuation Plan is integrated with the Canada Pension Plan. Canada Pension Plan contributions are required on the Yearly Maximum Pensionable Earnings minus the Yearly Basic Exemption as these amounts of gross salary are set annually by the federal government.
Contributions are based on the following formula:
  7.85% X Yearly Basic Exemption of the Canada Pension Plan  
  PLUS  
  6.05% X Yearly Maximum Pensionable Earnings minus the Yearly Basic Exemption of the Canada Pension Plan  
  PLUS  
  7.85% X Earnings in excess of the Year's Maximum Pensionable Earnings as set for the Canada Pension Plan  

 

The teacher and government contribution rates for those who do not contribute to the Canada Pension Plan is 7.85% of salary.
Based on average teacher salaries, this means that approximately 6.6% of a teacher's salary, subject to maximums pursuant to the Income Tax Act (Canada) is credited to the Teachers Superannuation Fund. As of July 1, 1980, the Government of Saskatchewan contributes a matching amount on behalf of teachers contributing to this Plan. Government contributions to the Plan are set through provincial negotiations.
Contributions on those salaries that exceed the maximum pension allowed by the Canada Revenue Agency (CRA) are recalculated and returned to the teacher at the time of retirement.
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ADMINISTRATION
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FUNDS
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CONTRIBUTION RATE
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TEACHING SERVICE
* Contributory Teaching Service
* Income Continuance Plan Service
* Purchase of Service
* Service on a Part-Time Contract
* Substitute Service
* Accumulation of Partial or Substitute Service
* Qualifying Service
* Procedures
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RECIPROCAL TRANSFER AGREEMENTS
* Procedure
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ELIGIBILITY
* Retirement with an Unreduced Allowance
* Retirement with a Reduced Allowance
* Procedures
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RETIREMENT BENEFITS
* Prior to Age 65
* Age 65
* Minimum Allowance
* Procedures
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INDEXING OF ALLOWANCES
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DEFERRED ALLOWANCES
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SURVIVOR BENEFITS
* Death Before Retirement
* Death After Retirement
* Adjustment at Age 65
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TERMINATION
(For Reasons Other Than Retirement)
* Conditions for a Refund
* Amount of Refund
* Reinstatement of Refund
* Commuted Value
* Spouse of Deceased Teacher
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SUPERANNUATES WHO RETURN TO TEACHING
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PENSION DIVISION ON MARRIAGE BREAKDOWN
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VOLUNTARY CONTRIBUTIONS
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SUMMARY
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PENSION AUTHORITIES' CONTACT
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