Contributions

The annual contribution to the plan, as required by the plan, is 10% of salary (basic salary plus housing allowance): 5% to be contributed by the church and the remaining 5% by the employee.

The Fellowship National Office has no way of determining your church/staff contribution level. All contributions received are split equally between member and church for pension accounting purposes, unless it is specifically noted on each remittance.

Regulations require that pension contributions must be forwarded to the Fellowship National Office no later than 30 days after the month end for which the contributions apply.

To increase the amount of retirement pension income a member may make voluntary contributions up to the maximum permitted by the Income Tax Act. The church will not match such contributions. The maximum contribution is limited to the unused P.A. (Pension Adjustment) amount (after adjusting for any current year R.R.S.P. contributions). The unused P.A. amount is provided by Revenue Canada and is sent to you upon filing your last year's income tax.

To download a copy of the Pre-Authorized Pension form, click here.