Further improvements to the New Teachers’ Pension Plan
The Teachers’ Pension Plan (TPP) started a new era on January 1, 2018. This New Plan is a modernization of the TPP that increases the lifetime pension and brings equity for all plan members regardless of working as a TTOC, part-time, or full-time teacher. Based on actuarial information from the Teachers’ Pension Plan that indicates a surplus, the Plan Partners (BCTF and provincial government) have decided to implement a series of further improvements. Although the surplus and improvements are pending formal confirmation with pension authorities in late August 2018, Partners have made the decision that the BCTF inform all Plan Members. The information was presented at the March 2018 Annual General Meeting and shared with other representative organizations (British Columbia Retired Teachers’ Association (BCRTA), BC School Superintendents’ Association (BCSSA), BC Principals and Vice-Principals’ Association (BCPVPA), Plan Employer Partner, and the Teachers’ Pension Board of Trustees (TPBT).
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