Pension Life - Winter 2021

News for retired members

Welcome to the winter issue of Pension Life online. Here you can access your pension news and plan updates anytime. Plus you’ll find new online features, quick links to all your pension resources and more!

Watch the website for updates, and don’t forget to register for My Account so you can access all your information in one place.

Ready to go paper-free?

You can now choose to receive digital notifications when your latest pension information, like your tax slip and Annual Statement, is available online. Going paper-free is fast, secure and allows you to keep track of all your important pension information in one place.

If you're already registered for My Account, sign in, confirm your contact information and select “yes” to receive pension information digitally whenever possible. If you’re not already registered for My Account, register now to opt in.

Visit My Account

Taxes: T4A available online

Your current and previous T4As are available through My Account. Sign in to My Account today to view and print your T4A.

View your tax slip

Retirees’ association

Join the Association of British Columbia College Pension Plan Retirees (CPPR), the group that advocates for your interests. Access discounted group insurance plans covering home, travel and trip interruption.

Learn More (opens external website)

Extended health care and dental rates

The new monthly rates are in effect as of February 1, 2021, and may change at any time.

Retirement health coverage premiums

Pension Life is published twice a year. You may receive more than one copy of Pension Life if you receive a pension from more than one pension plan. Read your statement letter to determine which plan provides your group benefits. Any person entitled to a benefit, or their agent, has the right to examine plan documents, data and public information about the plan.

Woman smiling and looking up towards the sky while hiking

Your 2021 COLA is 1.0 per cent

Good news! On January 1, 2021, you received a cost-of-living adjustment (COLA) of one per cent, matching the annual change in the Canadian consumer price index. Although COLAs are not guaranteed, once granted they become part of your basic pension and, if applicable, your bridge benefit.

Read more

Boardroom image

Geraldine Hutchings trusts in the plan’s governance

After three decades practising law, Geraldine Hutchings has become an expert in trustee responsibilities and fiduciary duties. Learn how she uses this knowledge to foster good governance in her role on the College Pension Board of Trustees.

Read more

Paperless pension payments for members living overseas

More than 90 per cent of retired plan members living outside Canada and the United States have now switched from monthly pension cheques to electronic payment through Western Union GlobalPay service. Electronic funds transfer is the quickest, safest and most reliable way to receive your monthly pension. Electronic transfer can save you one to two per cent on currency conversion while eliminating most bank transaction fees. (In most cases, it’s free.)

Apply for direct deposit to an overseas account

Green Shield Canada has you covered

Your health and dental coverage

Learn about Green Shield Canada’s new services and get helpful reminders about your coverage.

Read more

Tips and tools


Taxes

Six tips for tackling your tax return in retirement
Learn how receiving a pension affects your tax return, and how you can make filing your taxes easier.

Your tax questions answered
It’s that time again! Find out how to reduce your taxes through income splitting or additional deductions.


Cost-of-living adjustments

Adjusting for inflation
Find out how cost-of-living adjustments added to your pension can help preserve your buying power throughout your retirement.


Payments

Your payment dates
Find out when to expect your next monthly pension payment.

How to manage your banking information
Learn how to easily update your banking information and sign up for direct deposit, wherever you live.