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Pension plan change

In June 2016, the Teachers’ Pension Plan Partners, BCTF and provincial government, agreed upon changes to modernize the pension plan for service starting on January 1, 2018 (the New Plan).  If a member retires after January 1, 2018, their pension amount will be made from two pension plan parts (the Old Plan and the New Plan) each with their respective calculation rules.  Please click below for additional information:  

2016 BCTF Annual General Meeting

In March 2016, at the BCTF Annual General Meeting the following motion was passed:  

That the Teachers’ Pension Plan design change of the pension formula include: 

1.    delinking from the Canada Pension Plan’s Year’s Maximum Pensionable Earnings (YMPE).
2.    a single accrual rate of 1.85% be applied to Pensionable Service.
3.    an Early-retirement Reduction Factor of 4.5% at age 61.
4     removal of the 35-year Pensionable Service cap.
5.    an unreduced pension for those with 35 years of Contributory Service.  

The Plan Member Partner (BCTF) and the Plan Employer Partner (BC Government) will draft language that will implement this decision.  This will be presented to the Teachers’ Pension Board of Trustees to direct Teachers’ Pension Plan (TPP) in its implementation.  Along the way, there will be several levels of checking compliance to pension regulations and tax rules.  

There will be no changes in pension calculations for current service up to and including December 31, 2017.   The annual Member’s Benefit Statements (MBS) from TPP, sent to members in May–June will not show any change of service until a full year of service in the new plan has occurred. That is, the new service will be reflected in the MBS issued in May of 2019 for the first full year in the new plan, 2018.

The BCTF will continue to provide support to plan members who are in need of pension information.  You may contact the BCTF Income Security Division for assistance:   

BCTF, Income Security Division
100 – 550 West 6th Avenue
Vancouver, BC   V5Z 4P2
604-871-1949, toll free 1-800-663-9163, Local 1949, fax 604-871-2287

2016 BCTF AGM pension presentations

Pension seminars

Pension Seminars for members are available from these presenters: 


  • Contact your local president to inquire about BCTF staff coming to your local to present a full pension seminar and provide a limited number of personal retirement consultations.

BC Pension Corporation

  • Making the Most of Your Pension (formerly Your Pension, Your Future)
    New to the plan or mid-career? Learn how the decisions you make today can impact your future pension.
    Pension Seminar Schedule and Registration  

  • Approaching Retirement (formerly Thinking About Retiring)
    Within five years of retirement? Learn how your pension options can impact your retirement income.
    Pension Seminar Schedule and Registration  

BC Retired Teachers' Association

2015 BCTF Pension Consultations

From September to December 2015, the BCTF visited Locals and School Districts seeking input on possible pension plan design changes with an online survey. Access to the survey closed on Monday, December 14, 2015. Based on the consultations, the BCTF Executive Committee (EC) made a recommendation to the 2016 AGM. For details on the proposed changes, EC recommendation, supplementary report, consultation presentation, and support materials, please click here.

2014 Information about Teachers’ Pension Plan 2014 Member’s Benefit Statement

The Teachers’ Pension Plan (TPP) provides member benefit statements (MBS) annually.  For additional information of how job action affected your 2014 estimate and how to adjust details going forward click here.

2012 Changes to the Teachers' Pension Plan

In October 2012 the Teachers’ Pension Plan Board of Trustees released the results of the 2011 actuarial valuation of the Teachers’ Pension Plan basic account.  This is a complex process that requires the actuary to calculate the present value of all liabilities ($20.7 billion ) and assets ($19.8 billion) to determine the funded status of the plan based on economic and demographic assumptions. This ensures the plan’s financial health and stability for the approximately 46,000 active members of the plan. As a result the plan is 96% funded and has an unfunded liability of $855 million.

The Board identified three key factors that contributed to the unfunded status of the plan:

  • underperformance in Canadian and global markets limited investment gains
  • life expectancy of plan members is increasing
  • fewer plan members than anticipated.

Due to the funded position of the plan, the Joint Trust Agreement governing our pension requires a 2.6% increase in the contribution rate to be shared equally between plan members and the employer. These rate increases will come into effect as of July 1, 2013.

  Member   Employer 
Old rates Rates effective
July 1, 2013
Old rates Rates effective
July 1, 2013
Below YMPE* 11.2% 12.5% 13.33% 14.63%
Above YMPE* 12.7% 14% 14.83% 16.13%

* The YMPE is the year’s maximum pensionable earnings for the set by Revenue Canada. The YMPE for 2012 is $50,100.

If you are considering purchasing service for a leave of absence that ended within the past five years you can save money by submitting your application to your employer before June 30, 2013.  All applications for received before this date will be based on the current contribution rates. For more information visit the Teachers’ Pension Plan website: or contact the plan by email: or by phone 1-800-665-6770 (toll-free in Canada and US).

Teachers' Pension Plan (TPP)

Following is a summary of the Teachers’ Pension Plan Rules. In case of a conflict between the summary and the rules, the rules will take precedence. For income tax implications, you should contact a tax specialist.

Further information is available from the Teachers’ Pension Plan. The Personalized Pension Estimator,and the Purchase of Service Estimator are both available when you log on at  “ My Account.” As well, a general  Purchase of Service Estimator will assist in estimating the cost of purchasing a leave of absence. The Teachers' Pension Plan web page provides contacts for pension inquiries.

The BCTF Income Security Division, 604-871-1921, toll-free 1-800-663-9163, does not have your personal pension information, but will answer questions and assist you if you provide the information. Your annual Members Benefit Statement from the Teachers’ Pension Plan provides you with your personal pension information.

Teachers' Pension Plan reports and announcements

The Special Report of the Pensions Committee to the 2004 BCTF AGM provides members with considerable pension information related to BCTF action, pension benefits, and agreed-to future improvements to the Teachers' Pension Plan.

The Teachers' Pension Plan may issue announcements, often to employers. These announcements are made when there are changes to pension plan rules or when there are administrative practice changes.


Information related to investments and the Teachers’ Pension Plan can be found at the following links:

Financial Planning for Your Retirement Life

Updated May 2016