2019 January rate changes

Dec 14, 2018

For employees

CPP

As of January 2019 the CRA will start the implementation of CPP enhancements. For this year, the rate is increasing by 0.15% to 5.10% for both employers and employees.

Basic Life Insurance

Basic life insurance rates will be calculated at $0.0732 per $1,000 coverage for Faculty & Librarians, ME, PEA members and Sessional Lecturers. The calculated rate for CUPE 951, 917 and ESS will be $0.1984 per $1,000 coverage.

Pension

Pension contribution rates are not changing this year, however; the yearly maximum pensionable earnings (YMPE) is changing from $55,900 to $57,400. Depending on earnings and pension plan, this can create a small change to pension deductions.

Employer Health Tax (EHT)

While the Employer Health Tax is paid by the employer, as an employee you will see the EHT as an employer side deduction on your paystub.

For departments

Employer Health Tax (EHT)

For any payments that fall within the 2019 calendar year, UVic is required to pay a 1.95% Employer Health Tax on pre-tax (gross) earnings. For jobs that are funded through the General Operating fund, this cost will be covered centrally. For ancillary, agency, research, and non-operating based jobs, the 1.95% tax will be included in your benefit costs, and coupled with CPP rate increases, will increase statutory employer costs (EI, CPP, EHT, and WorkSafe) to roughly 10%.

CPP

As of January 2019 the CRA will start the implementation of CPP enhancements. For this year, the rate is increasing by 0.15% to 5.10% for both employers and employees.