OTPP to raise employee contributions by 3%

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CANADA - Employee contributions to the Ontario Teachers' Pension Plan (OTPP) will increase by 3.1% of base earnings starting 1 January 2007.

Currently, contributions are set at an average of 8% of earnings. The increases will see this rising to more than 11% by 2009. The increases are due to be phased in over three years with employe...

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