Is BC pensions a Crown corporation?
BC Pension Corporation is one of the largest pension plan administrative agents in Canada with assets in excess of CA$123.6 billion….BC Pension Corporation.
| Industry | pension system |
|---|---|
| Website | Official website |
What does BC pension do?
The Public Service Pension Plan provides secure retirement income for plan members. The plan serves about 133,000 members and their employers in British Columbia. Members and employers work in a variety of sectors, including the provincial government, transportation, health care and others.
How many pension companies are there in BC?
We invest on behalf of 12 public sector pensions plans. As our largest client group, pension funds account for 77.1 per cent (or $153.8 billion) of assets under management.
How long does a pension last?
Pension payments are made for the rest of your life, no matter how long you live, and can possibly continue after death with your spouse.
Do nurses get pensions in BC?
Your defined benefit pension is something to be proud of. Members who worked for health employers covered by the Nurses’ Bargaining Association collective agreement should belong to the Municipal Pension Plan or the Public Service Pension Plan. …
How are BC pensions calculated?
We calculate your pension based on your years of service and the average of your five highest years of salary. We calculate your pension based on your years of service and the average of your five highest years of salary. Your lifetime pension is calculated using: The accrual rate (multiplier) for your member group.
What is a BC Teachers pension?
The Teachers’ Pension Plan is a defined benefit pension plan. Each time you are paid your salary, both you and your employer contribute to the plan. These contributions are pooled and invested so that you receive a lifetime monthly pension when you retire.
Who is the BC Pension Corporation and what does it do?
BC Pension Corporation is one of the largest pension plan administrative agents in Canada. Created in 2000, the corporation provides pension administration services on behalf of BC’s College, Municipal, Public Service, Teachers’ and WorkSafeBC pension plans, providing client service to five boards of trustees and their plan members and employers.
How many people are in the BC municipal pension plan?
The Municipal Pension Plan has over 309,000 active, inactive and retired members in BC. Members come from a variety of sectors across the province, including health, municipalities and school districts. The plan is the sixth-largest defined benefit pension plan in Canada.
Which is the seventh largest pension plan in Canada?
The Public Service Pension Plan serves over 119,000 active, inactive and retired members in BC’s public sector. The plan is the seventh-largest defined benefit pension plan in Canada.
Who is the largest pension manager in Canada?
One of Canada’s largest investment managers, BCI manages more than $171 billion in assets on behalf of public sector pension plans, insurance funds, and special purpose funds. Pacific Blue Cross provides optional health care coverage to the retired members of the Municipal Pension Plan.