The Pensions' Committee makes recommendations to and advises the Provincial Executive. With an again work force, the issues of pensions is becoming more significant for HEU members. The committee:
- Develops membership awareness of present and future retirement security issues affecting HEU members.
- Develops a work plan on educating the membership on retirement security issues, particularly the Municipal Pension Plan and other pension systems that apply to HEU members.
- Advocates for improvements in pension benefits.
Municipal Pension Plan
Most HEU members are covered by the Municipal Pension Plan. This is a defined benefit plan, where your pension is based on your age, your years of pensionable service and the average of your highest five years of salary (not necessarily your last five years). It is not based on your contributions to the plan or on the investment performance of the plan’s assets. Under this plan, your pension is paid for your lifetime.
For more information, visit the Pensions BC website and follow the link to the Municipal Pension Plan.