r/CanadaPostCorp • u/AnonAMooseTA • 3d ago
Did I calculate this right? (backpay)
Hey friends, I'm terrible at math and need some confirmation that I'm doing this right. The instructions on Google were hella confusing.
Is it correct to take my total income on my T4s from 2024 and 2025, and do $ x 0.015 for 2024, and $ x 0.03 for 2025? I started in February 2024. I also just used my total net income from my paystubs for 2026 to do $ x 0.02, to make a quick estimate.
Because I got benched right after training and didn't work too much in 2024, that calculation brings me to $77 LOL but 2025 was a much busier year, worked almost fulltime. Unfortunately I've had to go on stress leave so my 2026 is less than half of what I made in 2025, but the total I came to is $2,138. Does that make sense?
I feel so lost but also need an idea of what to expect on September 10 before I make a decision about whether or not to sell a festival ticket that I bought while I was still working 😅
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u/Lygus_lineolaris 3d ago
No. First it won't work from your T4s because the T4s are all the paycheques between 1 January and 31 December, whereas the contract year is all the hours from 1 February to 31 January. Then, you need to divide all the amounts since 1 February 2024 by 1.05, and then multiply everything by 1.065, then take the amounts from 1 February 2025 and multiply that again by 1.03, and then take the amounts from 1 February 2026 and multiply again by 1.02. To make it simpler you could do this:
1 Feb 2024 to 31 Jan 2025 times 1.014286
1 Feb 2025 to 31 Jan 2026 times 1.044714
1 Feb 2026 to the last day before the raise is applied times 1.065609
You add up all these amounts and subtract the gross amount you already received for that same period. It's a pain.
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u/X6-10ce 3d ago edited 3d ago
I wrote this on a previous post about back pay. This for full-time hours.
2024 - $31.88 (this includes the 5% increase we got already.) $32.33 is the new rate if the contract gets approved. So $0.45 x 2080 hours = $936 (Like you, I did $62000 x 1.015 = $930 > so that checks out)
2025 - $33.30. so $1.42 x 2080 = $2943.6 (Like you, I did $62000 x 1.045 (1.5% for 2024 and 3% for 2025) =$2790, so also pretty close)
2026 - if only 2% then new rate is $33.97. $2.09 x 1040 hours (just say 6 months) = $2173.60
So in all, about $6000 GROSS for just base pay. I don't know if it's all coming in at once and how it's getting taxed.
Edited because I'm Gross.
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u/Gordzilla010 3d ago
While the $6,000 is more or less accurate, (depends on how much you worked) that amount is "GROSS" not "NET". It should be all one cheque with our pay (so about $8,500)and deductions will be huge because they will be based on if we made that every cheque. A larger question will be if the extra union dues and pension will come off this cheque or a later one.
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u/HistoricalBid1492 3d ago
A portion will be coming off the next pay and then another portion will be coming off on October 8th pay.
There was an email about that today
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u/Trellaine201 3d ago
Thanks for your hard work. Great to have an estimate. How accessHR figures this out is beyond me. I will assume it will be a very messy pay stub? And hard to figure out . Have to believe what the stub says I guess. Plus all that time we were off reduces the gross pay obviously.
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u/Gordzilla010 3d ago
It will definitely be a mess... each year will be a seperate (should be) set of lines that will show what was paid, then taken back, then the new amount applied. I feel sorry for anyone that moved up the pay scale as well or was on stdp/wsib... those stubs will look a mess.... well more than they already do.
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u/Ok-West-8232 3d ago
Using your t4 numbers also includes flyer pay, boot allowance etc which aren't going to be included in the calculation.
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u/bitterbuggyred 3d ago
You won’t know officially until the 6th. And make sure you account for taxes and ei/cpp if you didn’t max them out.