Corrections

April 1, 2022 changes apply to correctional employees in BCGEU component 1.


Accrual rate changes

The accrual rate is used in the pension formula, along with your pensionable service and earnings, to calculate your lifetime pension.

Effective April 1, 2022, the accrual rate:

  • Will increase from 1.35 per cent to 1.60 per cent for earnings up to the YMPE
  • Will remain at 2.00 per cent for earnings above the YMPE
  • Will remain 0.65 per cent for the bridge benefit

Depending how long you have been working and building your service, your service history may now include several distinct calculation periods. The plan design that was in effect at the time you earned service will be applied to that service.

When you run an estimate in My Account, use a date at least one-month past April 1, 2022 as the date you want your pension to start. The estimator will use the new accrual rate above for any service from April 1, 2022 onward.

Use the timeline below to see what the accrual rate on your earnings is during different time periods.

Up to March 31, 2006

1.35% up to YMPE
2.00% above YMPE
0.65% up to YMPE bridge accrual

April 1, 2006 to March 31, 2018

1.65% up to YMPE
2.00% above YMPE
0.35% up to YMPE bridge accrual

April 1, 2018 to March 31, 2022

1.35% up to YMPE
2.00% above YMPE
0.65% up to YMPE bridge accrual

Starting April 1, 2022

1.60% up to YMPE
2.00% above the YMPE
0.65% up to YMPE bridge accrual