On July 1, 2026, your pension contribution rates will increase by 0.6 percent of your pensionable earnings.
Please note that effective July 1, 2026, your contribution rate on pensionable earnings below the YMPE* will increase from 8.8% to 9.4%, and your contribution rate on pensionable earnings above the YMPE* will increase from 10.6% to 11.2%.
*The Year’s Maximum Pensionable Earnings (YMPE) is set by the Government of Canada, and is $74,600 for 2026.
Why is this happening?
As part of the conversion of the WSIB Employees’ Pension Plan from a single employer pension plan to a jointly sponsored pension plan, member contribution rates have gradually increased by 0.6 percent of pensionable earnings per year since July 1, 2020. Member contribution rates will continue to increase by 0.6 percent of pensionable earnings until the funding for the Plan reaches a 50/50 employer-member cost-sharing ratio. By doing this together, we help maintain a sustainable pension plan!
When will this be reflected on my pay?
The new contribution rate will be reflected on your Thursday, July 23rd pay. Employee contributions are deducted directly from your bi-weekly pay.
Learn more
To learn more about the plan contribution formula and how you and your employer contribute to your pension, visit Pension Contributions.