Pensions and Retirement Plans: Payroll's Responsibility

New for 2021!

Employer-sponsored savings plans such as Registered Pension Plans (RPP) and Registered Retirement Savings Plans (RRSP) provide employees with an automatic way to save for their retirement while benefiting from tax breaks. Employees who participate in these programs essentially receive free money as their employers offer matching contributions.

Payroll professionals play an important role in the administration of employer-sponsored plans. These activities include administering employee contributions through payroll deductions, monitoring contribution limits, and year-end reporting.

It is crucial to both employers and employees that this is administered accurately by payroll. To maintain the tax-deferred savings status of an employer-sponsored plan, it is essential that both federal and provincial legislation be followed. If not followed, it could results in under or over contributions.

Our expert instructors will guide you through the types of plans, correcting errors, exceptions, year-end reporting, and much more.

Who should attend:

All payroll professionals, human resources professionals or anyone responsible for administering plan contributions through payroll, remitting contributions to the plan administrator or year-end reporting.


How to access your session:
You will be sent the information on how to access your online seminar three business days before the live event. If you do not receive the login information three days before the seminar, check your email SPAM folder. If it's not there, please contact membership@payroll.ca as soon as possible.

 

!! IMPORTANT !!

Sound for this online session is streamed directly through your computer or electronic device. Participants will not be provided with a dial-in number.

Please test check your system BEFORE you register. Make sure you are connected via your local desktop (not through your company’s server) to perform this test and view the future presentation. Click here to test your system and for troubleshooting tips.

Play types and features

  • Overview of the various types of plans
  • Key features of a plan document or employer policy
 

Managing contributions and payroll withholding

  • Contribution limits based on plan type
  • Impact of both employee and employer contributions on statutory payroll withholding
  • Legislative requirements related to employee eligibility to join the plan and remittance deadlines for employee and employer contributions
 

Correcting contribution errors

  • Correcting missed contributions based on plan type
  • Correcting over contributions based on plan type
 

Impact of leaves of absence on plan contributions

  • Contributions during a leave
  • Retroactive contributions following a leave
 

Year-end reporting

  • Pension Adjustment reporting for registered plans on T4 slips
  • Reporting of employee contributions on the T4 and RL-1 slips
 

Please note that after registering online for this event, you will receive an email confirmation that confirms your registration. Confirmation emails are sent approximately within 2 business days after the registration has been processed.

Three business days before the live event, you will be sent the link to access the online PD seminar on the scheduled day.

Also, detailed instructions on accessing the online PD seminar will be emailed to you the day before the event.

Cancellations or Transfers: requests must be received in writing at least four (4) business days prior to the online seminar date. Please note a cancellation fee or transfer fee in the amount of $50 plus applicable taxes will be applied. Cancellation or transfer requests received after the login information has been provided are not eligible for a transfer or refund.

LENGTH:

Upcoming Seminars


Members

$349.00

Early-bird *

$349.00

* Register 14 days prior to seminar date

Non-Members

$399.00

Early-bird *

$399.00

* Register 14 days prior to seminar date

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