Contribution Amounts

By adding flexibility to our plan, it allows you to save for retirement in the way that works best for you. 

See below for more details. 

Samuel Son & Co. will match your Regular contribution percentage, to a maximum of 5%. You have the option to set your Regular contribution between 3% - 5%, in 0.5% increments.

Regular Contribution Amount Options: 3%, 3.5%, 4%, 4.5%, 5%

If you wish to contribute more than 5% to your DCPP, you can do so through setting a voluntary contribution amount. Voluntary contribution amounts are NOT matched by the company.

When inputting a Voluntary contribution amount, indicate the percentage of earnings you wish to contribute in addition to your Regular contribution. 

Example: If you want to contribute 7% of your earnings per year towards your DCPP, enroll your Regular contribution at 5% and your Voluntary contribution at 2%. The company will contribute 5%.

Note: Mandatory minimum contribution of 3% of your earnings* per year required.

In accordance with the Income Tax Act (Canada), the total of all contributions (inclusive of company contributions) made to your DCPP in a year cannot exceed the lesser of: 18% of your total compensation from Samuel Son & Co., and the money purchase limit, as defined under the Income Tax Act (Canada), for that year.

*Earnings = salary/wages, overtime and vacation pay, and commission (if applicable).