Pensions

The Pensions Subcommittee makes recommendations to and advises the Provincial Executive. With an aging workforce, the issues of pensions is becoming more significant for HEU members. The committee will:

  • Develop membership awareness of present and future retirement security issues affecting all HEU members.
  • Develop a work plan on educating the membership on retirement issues, which includes the Municipal Pension Plan, Canada Pension Plan and other pension systems that apply to all HEU members.
  • Advocate for improvements in pension plan and retiree benefits.
  • Connect with other subcommittees with common ground issues and work together.

Canada Pension Plan, Municipal Pension Plan and other Pension Systems 

  • Bring awareness to HEU members regarding changes and useful information about the Canada Pension Plan, Municipal Pension Plan and other pension systems.
  • Provide useful website links for members to access information regarding their pensions.

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.

These and other useful links can be found at our Retirement Information page.