Happy New Year! We hope you all enjoyed a wonderful holiday and are back to work today feeling rejuvenated!
Now seems as good a time to remind you of the following with respect to your pay:
- Your last pay of 2009 was received on December 30th, and you should have found your paystub awaiting you upon your return to work today.
- As the December 30th pay was the third paydate in the month of December, your pay was slightly larger as there are minimal deductions on the 1st and 3rd pays of most months.
- Your first pay of 2010 is on January 13th - be prepared for the pinch in your pocketbook! As is the case every January, CPP and EI deductions will resume with the new calendar year. For those at the top of the salary grid, these deductions are typically finished in late June or early fall. As well, the Ontario College of Teachers' annual fee for 2010 ($120) will also be deducted from this first paycheque.
- The combination of these deductions can mean potentially hundreds of dollars less on this upcoming pay compared to the December 30th pay. Please budget accordingly each year!
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