New Salary Cap
New Salary Cap for 2012
Effective January 1, 2012, the YMPE is $50,100.00 and the new salary
cap for 2012 is $147,364.00.
This means that part of your pension premium rate is based on the YMPE and another part of your pension premium rate is based on the amount over the YMPE up to the salary cap.
If you are in the UAPP, there is a third part to your pension premium rate based on the amount over the salary cap.