New Members
Full-time employees
If you’re a full-time employee of the Toronto Transit Commission (TTC), the Amalgamated Transit Union (ATU) Local 113, or TTCPP and have completed six months of continuous service, you automatically become a member of TTCPP and will start making pension contributions. Your credited service starts accruing as soon as your employer deducts pension contributions from your pay. Once you become an active member, you’ll receive a welcome package from us with everything you need to start building your secure financial retirement.
Options for part-time or temporary employees
If you’re a part-time or temporary employee, membership in TTCPP is optional. You can choose to join after you’ve completed six months of continuous service. Give yourself the peace of mind of knowing that, when you retire, you will receive a secure pension for life.
Why join?
TTCPP offers exceptional features and benefits, including:
- The secure lifetime income of a defined benefit pension plan, which means you don’t have to worry about outliving your pension
- Periodic improvements to the benefits you receive (conditional on the affordability and long-term health of the Plan)
- Periodic cost-of-living increases to monthly pension payments to offset the impact of inflation (conditional on the affordability and long-term health of the Plan)
- Survivor benefits to protect your spouse or loved one
- Options to purchase credited service in the event you take time off work
To enrol, complete the Plan Enrolment for a Part-time or Temporary Employee form and send it to membercare@ttcpp.ca. Your enrolment in the Plan will be for the pay period ending in which your application is received. You cannot backdate your application and your membership cannot be cancelled.
Can I transfer my service from another employer to TTCPP?
Our Bylaws don’t allow for transfers from another employer to TTCPP.
How do contributions work?
As a Plan member, you contribute a percentage of your earnings each pay period to the Plan, and these contributions are matched by your employer. The amount you contribute is based on a percentage of your earnings and are tax deductible. You pay no income tax on the matching portion that your employer contributes.
When you become a member of TTCPP, as soon as you start contributing to the Plan, your entitlements are vested and you have earned a right to receive a pension benefit.
What does it cost?
Your contribution is based on the year’s maximum pensionable earnings (YMPE) formula:
9.25%
of your earnings up to
the YMPE
10.85%
of your earnings above
the YMPE
Example 1 *
Colette is a new TTC employee and is paid $60,000 per year. As her earnings are under the YMPE†, her pension contributions would be $60,000 × 9.25% = $5,550 annually, or about $124.98 per week from her pay. These contributions are 100% matched by her employer.
*This example and calculation are for illustrative purposes only.
†The 2021 YMPE is used in this calculation.
Example 1: Total annual pension contributions
Percentage of contribution
Earnings up to YMPE
Total annual pension contributions
9.25%
$60,000
$5,550
Example 2 *
Simon earns $70,000 per year. Given a YMPE of $68,500†, his pension contributions for the year would be calculated as [9.25% × $68,500 = $6,336.25] + [10.85% × ($70,000 – $68,500) = $162.75] = [$6,336.25 + $162.75 = $6,499]. His total pension contributions on $70,000 would be $6,499 annually, or about $124.98 per week from his pay.
*This example and calculation are for illustrative purposes only.
Example 2: Total annual pension contributions
Percentage
of contribution
Earnings
up to YMPE
9.25%
$68,500
Percentage
of contribution
Earnings
above YMPE
10.85%
($70,000 $68,500)
Total annual pension contributions
$6,336.25
162.75
$6,336.25
$162.75
$6,499
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