Personal Finance

What's OPP and VPP deductions?

  • Last Updated:
  • Mar 5th, 2015 12:17 pm
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Member
Aug 7, 2011
235 posts
63 upvotes

What's OPP and VPP deductions?

I just came back from Calgary to Ontario late last year. On my pay stubs at the start of the year I have FED TAX, EI, CPP. Straight forward stuff, but then I have OPP% and VPP% deductions right under those. Anyone know what they are?, apparently other people at work don't look at pay stubs so they don't know about it. Payroll is aways gone before I start work, so I'm hoping someone can enlighten me on what those two are.
4 replies
Deal Addict
Mar 3, 2009
1913 posts
1221 upvotes
Ottawa, ON
Chura83 wrote: Apparently other people at work don't look at pay stubs so they don't know about it.
I see this too and it always surprises me! Good for you for actually looking into your finances.
Chura83 wrote: Payroll is aways gone before I start work, so I'm hoping someone can enlighten me on what those two are.
VPP% sounds like vacation pay to me. Does your employer pay a certain percentage out for vacation (instead of giving you paid holidays)?
OPP% may be some kind of sick pay, but I can't think of what it may stand for.
Deal Addict
Jan 2, 2015
1633 posts
639 upvotes
Toronto, ON
OPP = Ontario Pension Plan? I thought that hadn't been implemented yet. Do you have your T4s yet? The box numbers will give clearer info.

Edit: It's called ORPP and won't be in use until 2017. So you must have something else on your paystub.
Banned
May 12, 2004
9756 posts
4136 upvotes
Ottawa
Ahhh...typical RFD, people answering questions they know absolutely nothing about...

RPP: Registered pension plan. These are the contributions made by your employer.

OPP: Optional Pension Plan. These are contributions you make yourself into your company pension plan which includes some sort of employer match to a maximum. Your employer might match dollar for dollar up to 3% or it might be they give you 1.5% for every 3%. HR can help you.

VPP: Voluntary Pension Plan. Once you max out your OPP and wish to add additional contributions to your work pension the remainder goes to VPP.
Member
Aug 7, 2011
235 posts
63 upvotes
Cas77 wrote: Ahhh...typical RFD, people answering questions they know absolutely nothing about...

RPP: Registered pension plan. These are the contributions made by your employer.

OPP: Optional Pension Plan. These are contributions you make yourself into your company pension plan which includes some sort of employer match to a maximum. Your employer might match dollar for dollar up to 3% or it might be they give you 1.5% for every 3%. HR can help you.

VPP: Voluntary Pension Plan. Once you max out your OPP and wish to add additional contributions to your work pension the remainder goes to VPP.
Thank you so much!

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