(Montreal) Many Canadian workers do not feel well equipped to understand their payslips, as 38% of them think it is unlikely that they would notice any “gaps” or “errors” in remuneration, says a new study commissioned by Payments Canada, the results of which were released on Tuesday.
Posted at 4:35 p.m.
According to the online study conducted by Angus Reid Forum, about one in three Canadians (35%) say they do not fully understand all the details of their payslip, but assume that it is accurate.
In fact, more than half (57%) of working Canadians say they don’t pay much attention to income and deduction amounts on each pay stub.
Additionally, 35% of respondents find it intimidating to review their pay information.
Half of respondents in the survey say they check the amount in their bank account, but not pay slip details about their income and deductions.
About one in three respondents (34%) say they only focus on the details of their income when filing their tax return.
Payments Canada reminds Canadians that approximately $971 billion is paid annually in wages and benefits to Canadians, and that a complex and changing array of payroll deductions means that errors and discrepancies can occasionally occur.
Many workers are reluctant to ask questions about their payslips. Thus, for 23% of them, the prospect of asking their employer to explain their payslip is uncomfortable or embarrassing.
The online survey was conducted in English and French by 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 employed Canadians and part-time, balanced and weighted according to age, gender and region.
Payments Canada advises that for comparison purposes only, samples of this size would yield a margin of error of plus or minus 2.5 percentage points, 19 times out of 20.
Payments Canada is a public-purpose organization that owns and operates the Canada Lynx payment system and the Automated Clearing and Settlement System.