Municipal Pension Plan (MPP)
BC’s municipal pension plan (MPP) serves more than 365,000 members and more than 900 employers including PEA chapter members in:
- Hospital Employees’ Staff Union;
- Legal Services Society;
- Okanagan Regional Librarians; and
- Health Science Professionals (please note that a small number of HSP members that were transferred from the public service are not in the MPP).
The MPP plan partners were asked to begin a redesign by the MPP board and the proposed changes are now being sent out to members for consultation. The redesign is not final and MPP plan partners are asking for feedback from September 14 until October 23, 2020. These changes are being proposed because the way members work and retire has changed significantly since the last plan update in 1966. The proposed changes strive to make the plan more equitable and sustainable. The redesign changes will be considered by the MPP board late in 2020 and changes won’t be implemented until January 2022.
The PEA has hired an actuary to analyze the impact of the proposed MPP changes on PEA members and we will be sharing these results here on the MPP section of our website once the analysis is complete.
MPP Proposed Redesign Changes
If you are an active or retired PEA member in the municipal pension plan, you are encouraged to visit www.mppredesign.ca to learn more about how the proposed changes may affect you. All PEA members are Group 1 (or general members) of the plan.
The MPP website has a retirement calculator and to use it you will need your pensionable service, contributory service, highest average salary and year of retirement. You are encouraged to run multiple scenarios with different ages of retirement.
Members can also watch videos to learn about the three big proposed changes. This includes the proposal to remove the bridge benefit and early retirement subsidies for service after January 1, 2022. The removal of early retirement subsidies and bridge benefit will support funding a higher lifetime pension for most members.
The MPP website also has a list of frequently asked questions, and the option to email or call the MPP call centre with questions or comments on the proposed redesign changes.
Although we encourage you to use the MPP website as your main source of information, members can email mppinfo@pea.org if they have questions or comments.
We will also be posting specific PEA member questions and answers here on the PEA website as they come in.
Resources
Upcoming MPP Webinars
The PEA will be hosting webinars for PEA members on the proposed MPP redesign changes on:
- September 24, 2020
- October 1, 2020 (repeated session)
Invitations to both of these sessions will be sent out closer to the date.
Documents
Local Reps and Chapter Executives are encouraged to share the below poster and newsletter graphic with members within their chapter.