Benefit Information

Benefits

Your basic pension gives you a paycheque for life after you retire from your job. It may also provide income for your spouse or dependant. Inflation protection helps your pension payment keep pace with the cost of living, and over time can mean significant and permanent increases to your guaranteed basic pension. In fact, the pension payment received today by a member who retired 20 years ago has increased approximately 69 per cent because of indexing. The EHB and voluntary dental plans use group “purchasing power” to give you access to comprehensive health coverage at a cost that would not be available to an individual outside the plan. These benefits offer good value, whether their premiums are subsidized by the plan or not.

Knowing what retirement benefits are available, and understanding that some of these benefits are not guaranteed and may change in future, will help you prepare for retirement.