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Zoe's annual contributory earnings are $79,673. She is a member of a stepped pension plan with contributory rates of 7% up to the YMPE and

  1. Zoe's annual contributory earnings are $79,673. She is a member of a stepped pension plan with contributory rates of 7% up to the YMPE and 8.5% above the YMPE. If the YMPE is $55,300, what amount is Zoe required to contribute to her pension plan?

    a) $5,379.98

    b) $5,577.11

    c) $5,942.71

    d) $6,772.21

  2. Akash is a member of a defined contribution pension plan at work. He earns $60,000 a year. His pension plan calls for both him and his employer to contribute 6% of his salary to his pension plan. Calculate his pension adjustment for the current year if the money purchase limit is $24,270.

    a) $3,600

    b) $7,200

    c) $16,500

    d) None of the above.

  3. James earned $80,000 in 2013 and $85,000 in 2014. He has a pension adjustment for 2013 of $7,500. What is his RRSP contribution limit for 2014?

    a) $6,900

    b) $7,800

    c) $14,400

    d) $15,300

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