PY-Canada: Pension Money Purchase Limit (MP Limit)

[Silvio_Galery]

Dear,

I am implementing a RRSP saving contribution plan for a customer in Canada.

The contribution should not be more than Money Purchase Limit and this amount is update every year.

I have cheched the table T5KTC "" and I did not find the Money Purchase Limt amount.

My question is: How Does SAP maintain this amount?

Best Regards,

Silvio

[former_member298958 · Accepted solution]

Hi,

We usually create a limit in payroll or directly in the config of the plan since this is not store in T511K or T5KTC. We review the limit every year.

Regards

Frederick

[Silvio_Galery · Accepted solution]

Hi Frederick,

Thank you for your answer.

From you answer, our understanding is that calculation should be done in payroll without having this information from T5KTC.

The Max amount of eemployee contribution is the Lower of:

1) The total of employee contribution 2014 (MP Limit is $ 24,930)

2) 18% of earnings. (RRSP deduction limit )

Where do you get the RRSP deduction limit %?

Does SAP provide this RRSP deduction limit?

Regards,

Silvio

[former_member298958 · Accepted solution]

Check feature PYMPE. It might help you.

Regards

Frederick