Guide for new members

Welcome to BC's College Pension Plan. As a plan member, you are eligible for a lifetime monthly pension when you retire.

Beyond the lifetime pension benefit

In addition to the guaranteed lifetime monthly pension benefit, the College Pension Plan also includes a non-guaranteed annual cost-of-living adjustment (COLA).

During your retirement, your monthly pension payment may increase because of these COLAs.  

Each year, the College Pension Board of Trustees reviews economic factors to decide whether to grant a COLA. If the board grants an adjustment, it will take effect in January and is applied to your monthly pension payment (and any bridge benefit and/or temporary annuity you may be receiving).

A COLA might not be granted each year. However, once granted, it becomes part of your lifetime pension.