(Montreal) Many Canadian workers don’t feel well equipped to understand their payslips, as 38% of them think it’s unlikely they would notice any “gaps” or “faults” in their pay, according to a new study , commissioned by Payments Canada, results of which were released on Tuesday.
Posted at 4:35 p.m
According to the online study conducted by the Angus Reid Forum, approximately one in three Canadians (35%) say they do not fully understand all the details of their payslip but believe it is correct.
In fact, more than half (57%) of working Canadians say they don’t pay much attention to income and deduction amounts on each payslip.
Additionally, 35% of respondents find it intimidating to check their salary information.
Half of the respondents in the survey say they check the amount in their bank account but don’t check payslip details on their income and deductions.
About one in three respondents (34%) say they only focus on the details of their income when filing their tax returns.
Payments Canada reminds Canadians that approximately $971 billion in wages and benefits is paid to Canadians annually and that a complex and changing series of payroll deductions means that errors and discrepancies may arise from time to time.
Many workers are reluctant to ask questions about their payslips. For example, 23% of them find it uncomfortable or embarrassing to ask their employer for an explanation of their pay slip.
The online survey was conducted in English and French by the Angus Reid Forum on behalf of Payments Canada from June 30 to July 6, 2022 among a nationally representative sample of 1,503 full-time and part-time Canadians, balanced and weighted for age, gender and region .
Payments Canada notes that for comparison purposes only, samples of this size would produce an error of plus or minus 2.5 percentage points in 19 cases out of 20.
Payments Canada is a not-for-profit organization that owns and operates the Canada Lynx payments system and the Automated Clearing and Settlement System.