The Board of Trustees of the Telecommunication Workers Pension Plan approved a 1.25 per cent pension increase for all members who retired prior to January 1, 2008.

  The pension increase will be effective July 1, 2010.

The Income Tax Regulations limit post retirement increases to the increase in CPI (Consumer Price Index) since retirement.  Since the rate of inflation was so low in 2008 and 2009 and in some cases there was deflation, there will not be a pension increase for members who retired on or after January 1, 2008.

Members receiving a pension increase will receive a Notice of the Change in their Net Pay, effective July 1, 2010.

If members have questions concerning the amount of their increase, the Administration office is asking members to refrain from contacting the pension office until after they have received their July 1st payment.