INVESTOR: PAYROLL INVESTMENT PLAN

Pay Less Tax,
Every Paycheque

The SaskWorks Payroll Investment Plan (PIP) is a systematic contribution strategy that allows you to invest in SaskWorks every payday through automatic payroll deductions. A pre-determined amount is deducted from each pay period and redirected to your SaskWorks investment.

Since the 32.5% combined tax credit and the RRSP tax deferral are received at source, your income tax is reduced each pay period. This helps lower your out-of-pocket cost while investing in Saskatchewan companies.

PIP Calculator

The net cost of your SaskWorks investment per paycheque.

What is your annual gross income? What is your pay period/contribution frequency? How much will you contribute annually?

$

A $5,000 Investment Can Cost as Little as $66.35 Per Paycheque^*

How it Works

Invest $5,000 annually
($5,000 / 26 pay periods = $192.31)

Deduct the 32.5% tax credit ($125.96) from your income taxes every payday and redirect the savings to your SaskWorks investment account **
($570.76 – $125.96 = $444.80)

Invest $66.35 of your money into your SaskWorks investment account **
($192.31 – $125.96 – $66.35)
($66.35 x 26 pay periods = $1,725 Annual Investment)

Regular Pay

Less Fed/Prov Tax

Less CPP and EI

Less Dues

Less Pension

SaskWorks Investment

Net Take-Home Pay

Without Payroll Plan

$2,692.31

$570.76

$169.24

$32.00

$115.95

$0

$1,804.36

With Payroll Plan

$2,692.31

$444.80

$169.24

$32.00

$115.95

$192.31

$1,738.01

*Example for illustrative purposes only. Individual results may vary.
**Based on a $70,000 annual salary and a $5,000 investment in a marginal tax bracket pf 33% ($55,867 – $111,733). The amount will vary according to your tax bracket.

Getting Started

Interested in registering for the SaskWorks Payroll Investment Plan (PIP)? Start by confirming whether your employer currently offers the plan by reviewing the list of participating employers. If the PIP is available, contact your payroll department, your financial advisor, or SaskWorks directly to complete the required forms.

If your employer does not currently offer the PIP, you may request that they implement the plan, or SaskWorks can reach out to your employer on your behalf.

Participating Employers

Contact SaskWorks