What every UPN member should know about pensions
Your pension, especially one that provides a defined benefit under either the Municipal or Public Service Pension Plan, can be one of your most valuable assets at retirement and decisions you make now determine your financial health at retirement.
Here are some Frequently Asked Questions about the Municipal and Public Service Pension Plans Municipal Pension Plan
Some UPN members are covered by the Municipal Pension Plan. These links provide more specific information if you're a New Member or a member in Mid-career, Near Retirement or After Retirement. Since 2004 all employers covered by the Provincial Collective Agreement must become members of the Municipal Pension Plan. For information on how your Municipal Pension funds are invested consult the BC Investment Management Corporation.
Public Service Pension Plan
Many UPN members are covered by the Public Service Pension Plan. For more detailed information click these links:
For information on how your Public Service Pension funds are invested consult the BC Investment Management Corporation. A series of Frequently Asked Questions on the Public Service Pension Plan website provide useful information for potential plan members and for members at different stages of their career.
The Municipal Pension Plan and the Public Service Pension Plan offer retirees the option of participating in group benefits for Extended Health and Dental Plans. The premium subsidy is determined annually by the Pension Board of Trustees. Click here for the Municipal Pension Plan and the Public Service Pension Plan. UPN and other members of the Nurses' Bargaining Association have established a fund to provide for inflation protection and benefits for retirees. The current program offers a subsidy for the Medical Services Plan premium to eligible retirees in the Municipal and Public Service Pension Plans.
Canada Pension Plan
For more info please visit Canada Pension Plan