Board Communique: April 1, 2020
Ambulance paramedics: pension plan design changes are now in effect
Effective today, April 1, 2020, plan design changes are in effect for ambulance paramedics in the Canadian Union of Public Employees’ Local 873. These changes were negotiated by the Public Service Pension Plan (plan) partners. These changes apply to all service earned starting today and going forward; service and benefits already accrued under the old plan rules remain unaffected.
Ambulance paramedics and their union and employers were supported with educational guides posted to the plan website and sent directly by mail. The plan also hosted a series of webinars to explain the changes. Information about the changes is available on the plan website.
The changes to the plan design for ambulance paramedics affect only benefits earned going forward. The old plan rules will apply to benefits earned prior to April 1, 2020. Key changes include:
- A flat lifetime accrual rate of 1.85 per cent. This will mean ambulance paramedics will earn a bigger lifetime pension for service earned after today.
- The ability to retire at age 50, regardless of service.
- If ambulance paramedics have 10 or more years of service, they can retire with an unreduced pension as early as age 55 or with a reduced pension as early as age 50.
- If ambulance paramedics have fewer than 10 years of service, they can retire with an unreduced pension as early as age 60 or on a reduced pension as early as age 50.
- The bridge benefit and rule of 80 will still apply to service earned prior to today.
There is no action required by ambulance paramedics.