UPDATE: The Municipal Pension Plan has adopted new plan rules as of January 1, 2022. To learn more, please visit mpp.pensionsbc.ca
- Read HEU's newsletters on the MPP changes
Improvements to the Municipal Pension Plan – what you need to know - March 15, 2021
Take time to learn about proposed changes to the Municipal Pension Plan - September 30, 2020
Improving fairness and equity for HEU members covered by the Municipal Pension Plan - September 14, 2020 (reissued September 28, 2020)
These changes to the Municipal Pension Plan will improve post-retirement security for tens of thousands of HEU members.
Changes to the Plan follow years of negotiation and a comprehensive member consultation process. During the consultation period, HEU’s pension team engaged with thousands of members by web, email, social media, Zoom, and phone. This is the first major Plan redesign in 50 years.
The changes came into effect on January 1, 2022, and will only apply to pension accruals after that date.
HEU’s review of the changes has determined that the vast majority of members will benefit from the new rules. This is because the changes provide higher lifetime pensions for most HEU members by eliminating the two-tiered accrual formula.
It’s important that you understand how these changes will benefit you in your retirement.
Members are encouraged to visit mpp.pensionsbc.ca to use the pension estimator. It’s also helpful to take part in one of the MPP webinars on the pension plan. The MPP website has an extensive explanation of the changes.
Your pension is a paycheque for life. Please take the time to learn about how these changes will benefit you and your family.