Members of the Teachers’ Pension Plan can now access their 2021 Member’s Benefit Statement (MBS) in My Account. Members should review their MBS to make sure they have received the correct amount of pensionable service and contributory service for 2021. If members notice any errors, they should contact their employer’s payroll office to ensure the correct amount of service is reported. They should also contact the BCTF’s Income Security Division if they received benefits from the Salary Indemnity Plan during 2021 to ensure the correct amount of service is reported.
Please note that 10-month (September to June) teachers are not permitted to earn more than 10 months of pensionable or contributory service even if they teach summer school or have an additional part-time contract to teach evenings, etc. Teachers who are enrolled in the 12-month pay plan are still considered to be 10-month teachers for pension purposes because the 12-month pay plan is a “locked-in” summer savings plan, whereby a set percentage of net pay is deducted from their pay from September through June and deposited into their regular bank account in two equal instalments on July 15 and August 15.
The 2021 Report to Members is also now available on the TPP Website.
Members who opted in to receive digital notifications in My Account will receive notice of these documents electronically. Other members will receive their paper copies from their employer before the end of June.
Members who have not yet opted in to go paper-free may do so at any time to receive their important pension information digitally. They will need to register or sign in to My Account and select “Yes” to opt in.
If you or your members have any pension-related questions, please do not hesitate to contact me. Questions? Contact Sarbrinder Singh Lalli: firstname.lastname@example.org.Leave a reply