Municipal Pension Plan Updates – January 2014
Three items from the Municipal Pension Plan (MPP): Upcoming Seminars, Purchasing Service, Rate increases coming in July 2014.
Upcoming Seminars: The winter schedule for the MPP free member seminars is live! We are excited to get the seminar season going. Please help us promote these valuable seminars by letting your members know that registration is now open online.
The two seminars
- Your Pension, Your Future (1½ hours), for new and mid-career plan members.
- Thinking About Retiring (2 hours), for members within five years of retirement.
All plan members, including those receiving long-term disability benefits, are welcome.
To view the schedule or register
- Go to mpp.pensionsbc.ca
- Click on Resources
- Click on Pension Information Seminars
- There are eight dates and locations in the Lower Mainland over the next six months.
- Registration is on a first-come, first-served basis.
- Members are responsible for their own travel and associated costs.
- We can come to your workplace to host Your Pension Your Future or Thinking About Retiring seminars. To request a seminar, simply fill out and return the Pension Information Seminar Request form (available in the employer secure site) to us.
- Email MPPseminars@pensionsbc.ca
- Phone 250 356-8547 (Victoria) or 1 877 558-5573 (toll-free)
- Client Education Program | Pension Corporation
Purchasing Service: Spectrum employees have been contributing to the Municipal Pension Plan (MPP) since July 2010 and in July it will be four years. The date is significant if you are exploring the purchase of service for years you worked at Spectrum before we became members. Your opportunity to buy service from before July 2010 expires in July 2015. There is more information in this handout on purchasing service on the MPP website.
Rate Increases Coming: Every three years, the MPP fund has an actuarial review done to ensure that investments on hand are sufficient to fund member pensions. The review for the three year period ending December 31, 2012 has been completed and a deficit has been identified. The bulletin outlining the outcomes and the average increase of 0.70% is linked here. The increase effects both the employee and employer contributions effective July 1, 2014.