Pension Life - Winter 2020

Less paper, all the news

Welcome to your Pension Life…online! We’ve adapted the Pension Life newsletter and added it to your plan website. Here you can access your pension news and plan updates anytime. Plus you’ll find new online features such as tax-time tips, quick links to all your pension resources and more!

In January 2021, pension news will only be available online, but we’ll continue to mail paper copies of all important plan updates, such as plan amendments and inflation adjustments.

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

MSP premiums eliminated

BC Pension Corporation no longer administers Medical Services Plan (MSP) group coverage. Health Insurance BC (HIBC) automatically put you and any dependants on a self-administered MSP account. You will continue to have MSP coverage.

For coverage information visit Health Insurance BC

Green Shield Canada

GSC’s online services make it easier to manage your benefits.

College Pension Plan Board Trustee Weldon Cowan

Trustee role keeps Weldon doggone busy

A background in education and a passion for sharing knowledge with others have prepared Weldon Cowan for success in serving members of the College Pension Plan. “My combination of skills and talents is an asset for the board,” he says.

Read more

Your 2020 cost-of-living adjustment

Your 2020 cost-of-living adjustment is 1.9 per cent

You will receive a cost-of-living adjustment (COLA) of 1.9 per cent effective January 1, 2020. This matches the annual change in the Canadian consumer price index (CPI) in the 12-month period up to and including October 31, 2019. Your pension is keeping up with inflation.

Read more

Privacy breach

Last spring, the plan’s administrative agent, BC Pension Corporation, reported that a box of microfiche containing member data from the 1980s and 1990s had gone missing. A privacy breach was declared with BC’s Office of the Information and Privacy Commissioner (OIPC), and all members whose information was contained on the microfiche were notified.

In July, OIPC declared the breach closed. There was no indication the missing microfiche had been stolen or used for fraudulent purposes.

We have engaged extensively with BC Pension Corporation on this issue. We now feel confident that such a breach will not occur again.