WHAT YOU NEED TO KNOW
The Simplified Pension Plan (SPP) helps Stablex non-union employees save for retirement through contributions from Republic Services and optional employee contributions. Your retirement savings will depend on the contributions made, investment performance and the retirement income option you choose.
Eligibility and Enrolment
This plan applies to you if you are a Stablex non-union employee.
Full-time employees must join the SPP after six months of continuous employment. Part-time employees must join after one year of continuous employment, or sooner if they earned at least 35% of the Year’s Maximum Pensionable Earnings (YMPE) or worked at least 700 hours in the previous calendar year.
Contributions
Republic Services contributes 5% of your regular basic earnings, whether or not you contribute. You may contribute up to 2% of your regular basic earnings, which Republic Services will match dollar-for-dollar, up to an additional 2%. You may also make additional voluntary contributions through payroll deductions. Your contributions are tax deductible and subject to the limits under the Income Tax Act.
Contact your HR representative to start, change or stop voluntary contributions. Log in to Sun Life to choose or change your investments and designate or update your beneficiary.
Accessing Contributions
Republic Services’ contributions are locked in and must be used to provide retirement income for life. You may withdraw your additional voluntary contributions at any time or transfer them to an RRSP. Withdrawals may be taxable and will reduce your retirement savings.
Learn More
To learn more about the SPP, review the Stablex Canada Inc. Retirement Plan member booklet or contact Sun Life.
If you are covered by a collective bargaining agreement, check your union contract, as eligibility and benefits might be different for each program.
