AD&D

Accidental death and dismemberment is a policy that pays benefits to the beneficiary if the cause of death is an accident. This is a limited form of life insurance which is generally less expensive.

Canadian Pension Plan (CPP)

A contributory, earnings-related social insurance program. It forms one of the two major components of Canada’s public retirement income system, the other component being Old Age Security (OAS). All employed Canadians who are 18 to 65 years of age are allowed to contribute to this program.

Canada Savings Bond (CSB) Payroll Savings Program

Allows employees to contribute to a Payroll Savings Plan at their place of employment through automatic payroll deductions.

Current

Pay period earnings.

Employment Insurance (EI)

Premium paid to provide temporary financial assistance to unemployed Canadians who have lost their job through no fault of their own, while they look for work or upgrade their skills.

Federal Tax

Federal withholding Income Tax deductions.

Gross Pay

The amount of money you make before deductions.

Group Health Benefits

An insurance plan that provides extended healthcare coverage to a select group of people. Group health insurance plans are one of the major benefits offered by many employers. These plans are generally uniform in nature, offering the same benefits to all employees or members of the group.

Group Registered Retirement Savings Plan (GRRSP)

An employer-sponsored retirement savings plan, similar to an individual RRSP, but administered on a group basis by the employer. Contributions are made by pay-roll deduction, on a pre-tax basis, through a Group RRSP administrator.

HOL

Holiday hours worked.

Income Tax

Tax levied by a government directly on income, especially an annual tax on personal income. Your paystub may breakdown into federal (Fed Tax) and provincial tax (Prov Tax).

INS or MED

Insurance or medical savings account deductions.

Life Insurance (LI)

Insurance that pays out a sum of money either on the death of the insured person or after a set period.

Long-Term Disability Insurance (LTD)

Pays you a portion of your income after you run out of both sick leave and STD. Depending on your plan, LTD may pay you for a specific number of years, like 2 years or 5 years, or until you turn a specific age, like 65.

Net

Earnings after deductions

OT

Overtime hours worked

Pay Period

A recurring length of time over which employee time is recorded and paid. Examples of pay periods are: weekly, bi-weekly, semi-monthly, and monthly.

Provincial Tax

Provincial withholding Income Tax deductions.

REG

Regular hours worked

Short-Term Disability (STD)

Pays you a portion of your income for a short period of time after you run out of sick leave. Depending on your plan, STD generally will pay you for between 9 and 52 weeks (or 1 year).

SCIK or FL

Paid sick or family leave

Union Dues

Regular payment of money made by members of unions. Dues are the cost of membership; they are used to fund the various activities which the union engages in. Nearly all unions require their members to pay dues.

VAC

Vacation time paid.

Worker's Compensation (WC)

Workman’s comp contribution, usually paid by employer.

YTD

Year to date.

Tax (Refer to Income Tax)

Money that goes to the government

Vacation Pay

A percentage of income that employers must pay employees for vacation time.