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BCTF Pension Consultations 2015

From September to December 2015, the BCTF visited Locals seeking input on possible pension plan design changes with an online survey. Access to the survey closed on Monday, December 14, 2015. For details on the consultation presentation and proposed changes, please click here.

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.

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.

Pension seminars

Pension Seminars for members are available from these presenters: 

BC Pension Corporation

BC Retired Teachers' Association


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

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 2013