Pension Consultations
The pension consultation: The next steps
The BCTF pension consultation team concluded its visits to locals on December 1. A total of 78 sessions were held with every local for all members of the Teachers’ Pension Plan. Approximately 5,000 pension plan members attended. The Retired Teachers’ Association offered concurrent presentations at selected chapter meetings.
The online survey was closed on Friday, December 4, 2009. There were over 8,200 online responses to the survey and an additional 160 paper surveys were mailed in to the BCTF office. At the time of writing, the BCTF Research Department staff is working to remove duplicate surveys, correct spelling errors, and analyze the data.
After the Research Department has completed its analysis, a draft report will be prepared by staff and presented to members of the BCTF Pensions Committee on January 11, 2010. This subcommittee will draft preliminary recommendations, which will be reviewed by the BCTF Executive Committee and passed on to the full Pensions Committee and Teachers’ Pension Plan Advisory Committee to finalize wording.
The report, with draft recommendations, will go to the BCTF Executive Committee for consideration and debate at their meeting in early February. The BCTF Executive Committee will present their recommendations to the Annual General Meeting in March.
The Annual General Meeting will hear a report from the Pensions Committee and then debate and vote on the recommendations and local resolutions that stem from the report. Once the Annual General Meeting has made its decisions, those decisions will be forwarded to the Teachers’ Pension Board of Trustees.
The trustees are meeting in March and will then be able to consider the input from members and the plan partner and make decisions regarding the future of subsidies to the Extended Health Benefit and indexing. The Board of Trustees must act independently in the best financial interest of the plan.
The Teachers’ Pension Board of Trustees will likely announce any decisions prior to the end of June 2010.
If you have any comments or questions regarding the Pension Consultation, please contact:
Arnie Lambert, alambert@bctf.ca, or Rob Taylor, rtaylor@bctf.ca.
Pension consultation presentation and supporting documents
The following documents are in PDF format.