Pension Life - Winter 2024
News for retired members
Welcome to the winter issue of Pension Life online. Here you can access your pension news and plan updates anytime. Plus you’ll find online features, quick links to pension resources and more!
Tax slips available online
Your official tax slips (T4A or NR4) are now available through My Account. Sign in to My Account to view and print them today.
Questions about completing your tax return? Visit canada.ca or call Canada Revenue Agency at 1-800-959-8281.
New security is coming to My Account
We’re adding an extra layer of security online. We will soon be adding two-step verification to My Account. Once we do, each time you sign in to My Account, we’ll send a one-time verification code to your personal email address. You will need that code to access your My Account. This new measure will help keep your information private and secure. Please take a moment to sign in to My Account now and confirm that we have your correct email address.
Review your contact information
Make sure we can get you the pension information you need. Update your email, address and phone number in My Account.
Retirees’ association
Join British Columbia Government Retired Employees’ Association (BCGREA) to connect with other retired members and their spouses about pension issues, meet former co-workers, make new friends and have a voice about your pension.
Member discounts are available for out-of-province medical coverage, house insurance and life insurance, hearing aids and travel packages.
Annual dues are only $20 (single) or $40 (member and spouse) and are deducted from your February pension payment. New members pay no dues for the calendar year in which the application form is received.
Join us for a photo shoot
Showcase your retirement lifestyle! Sign up to participate in a photo shoot with a professional photographer. Your photos may be used in Public Service Pension Plan publications like Welcome to Retirement, the Annual Report and more. You’ll receive a digital photo from the shoot as a thank-you.
Great news to start a new year
Message from the trustees: Pensions increase by 4.4 per cent
Your pension sees an inflation adjustment of 4.4 per cent starting January 1, 2024, protecting its purchasing power.
The latest valuation results
Your plan is 113 per cent funded
The 2023 valuation determined the plan has a surplus of $4.5 billion, which is more than is needed to pay the pensions of current and future retired plan members.
Understanding the cost of your prescription drug
Did you know that pharmacies are free to set their own markup and dispensing fees?
Tips and tools
Payments
Find out when to expect your next monthly payment.
Do more in My Account
View documents, payments and statements
Your annual pension statements, transaction statements, payment history and pension payment schedule are all available in My Account.
Go paper-free
Choose to receive email notifications when digital versions of your latest pension information are available online. Select your communication preferences when you register or sign in. Update your choice at any time under Account settings.
Message Centre
Get in touch using Message Centre, your secure personal pension inbox. Sign in to My Account and use the Message Centre links on your dashboard.
New: Now you can check on the status of your service request quickly and easily, anytime. Review the progress of any request in the last 365 days.
Pension Life is published twice a year. You may receive more than one copy of Pension Life if you receive a pension from more than one pension plan. Read your statement letter to determine which plan provides your group benefits. Any person entitled to a benefit, or their agent, has the right to examine plan documents, data and public information about the plan.