Members are living longer, making pensions more valuable
Members are living longer, making pensions more valuable
You probably know that Canadians are living longer on average, but did you know that those who work in the education sector are living even longer?
Deficit can be eliminated with no benefit reductions
Contributions changes will help secure future benefits, improve equity
Rates to edge up over three years, beginning in 2012
About the Funding Task Force
How the task force conducted its review
About the deficit
How the Plan is managing the deficit
Member life expectancy has climbed steadily and now sits at 87.7 years for the typical member who retires at age 60. That’s substantially longer than the general population. It’s also 2.4 years longer than was assumed in the Plan’s last valuation. It’s great news for members and it makes a lifetime guaranteed pension even more valuable. It also means that the Plan needs to have sufficient funding to be able to pay more monthly pension payments to members.
