WHAT YOU NEED TO KNOW
The Republic Services Defined Contribution Pension Plan (DCPP) helps you save for retirement through your contributions and matching contributions from Republic Services. Your retirement savings will depend on the contributions made, investment performance and the retirement option you choose.
Eligibility and Enrolment
This plan applies to you if you are a Republic Services employee who does not work for Stablex.
You can join the DCPP on the first day of any month after completing one year of continuous employment. Participation is voluntary, but you will be automatically enrolled at a 1% contribution rate unless you opt out within 31 days of receiving your enrolment notice.
Contributions
You can contribute up to 5% of your regular basic earnings, and Republic Services will match your contributions dollar-for-dollar, up to 5%. You may also make additional voluntary contributions through payroll deductions. Your contributions are tax deductible, and total contributions must remain within the limits under the Income Tax Act.
Use Workday to start, change or stop your basic and voluntary contributions. Log in to Sun Life to register your account, choose or change your investments, and designate or update your beneficiary.
Note: You must join the DCPP before you can join the Group RRSP or TFSA. Joining the DCPP first helps ensure you do not miss out on company matching contributions.
Accessing Contributions
DCPP savings are intended for retirement. Employer contributions and most employee contributions are generally locked in and can typically only be accessed in accordance with pension legislation and plan rules. Any withdrawals may have tax implications and will reduce your retirement savings.
If you are covered by a collective bargaining agreement, check your union contract, as eligibility and benefits might be different for each program.
