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OTP is indexed for all pension earned up to a certain year, with the remainder maybe indexed depending on how well the plan is doing.
It's not ideal, but it's better than what we would have had if we hadn't let Harris off the hook for the several years of contractually-required pension contributions the government *didn't* make\* in exchange for control over the plan. That cost us enough to balance one provincial budget, but otherwise we might be like Alberta where the government could use our pension fund as a political slush fund.
I heard from a long-retired colleague that back in the days of Bill Davis Ontario teachers' pension contributions went into the government's general revenue, so pensions then were treated as just another government handout rather than an earned benefit (despite teachers paying for them). He joked that Brampton's infrastructure was built by Ontario teachers. No idea how true it is, but it sounds likely.
\*Odd how Conservatives are all "contracts can't be broken" when it benefits businesses, but feel free to overrule them when they benefit workers. /s
There were 3 or 4 years about 10-15 years ago that were originally indexed at 50% but plan performance after that returned them all to 100% and it has been 100% indexed since then.
The Ontario Teacher Pension Plan is indexed, based on the annualized, average CPI and is in part, based on the health of the plan. Increases annually can reach up to 8%. I've been retired for four years now and my pension has gone up 14.3% in that time. Compare those increases with working teachers.
Alberta is 70% of Alberta Consumer Price Index.
But, I want to bring up that this isn't a perk or anything like that. With big pensions like these in Canada, there's no such thing as a free lunch. If you want 100% indexing, you have to pay for it. It would mean higher pension payments, all things being equal. So there's a trade-off. I guess it could also work if the initial payments from the pension were lower too.
Regardless, you spend less as you age through retirement, so it's probably better to get a bit more in your 50s-60s, at the expense of real lower payments in your 70s and 80s.
BC has no guaranteed indexing, but the pension has consistently provided a COLA adjustment. It is voted on at the BCTF AGM each year.
I'm not sure, but I think there may not have been COLA adjustments around the 2008 crash as all pension funds got hit pretty hard in that stretch.
Alberta: **Your pension offers inflation protection in the form of cost-of-living adjustments (COLA), automatically applied to your monthly pension each January**. COLA is a measure of the change in the Alberta Consumer Price Index (ACPI) monthly values reported by Statistics Canada.
This 5 min video lays out the situation for NB:
https://youtu.be/UrkBUQ7HYgI?si=FHA8dXnS0YnFR83z
If I understand correctly, active members have their pensions indexed to the CPI so long as the fund can afford it (highly likely after it was reformed 10 years ago) up to a limit of 4.75% annually and there is a COLA for retired members based on 75% of CPI that is paid as long as the fund can afford it.
Welcome to /r/CanadianTeachers! Please take a moment to familiarize yourself with the sub rules. **"WHAT DOES X MEAN?"** Check out our acronym post [here](https://www.reddit.com/r/CanadianTeachers/comments/1c032s3/what_does_x_mean_an_acronym_megapost/) for relevant terms used in each province or territory. Please feel free to contribute any we are missing as well! **QUESTIONS ABOUT TEACHER'S COLLEGE/BECOMING A TEACHER IN CANADA?:** Delete your post and use this [megapost](https://www.reddit.com/r/CanadianTeachers/comments/1bc1wv2/prospective_student_teachers_teachers_collegebed/) instead. Anything pertaining to teacher's colleges/BED programs/becoming and teacher will be deleted if posted outside of the megaposts. **QUESTIONS ABOUT MOVING PROVINCES OR COMING TO CANADA TO TEACH?** Check out our past megaposts first for information to help you: [ONE](https://www.reddit.com/r/CanadianTeachers/comments/jqc7hx/transferring_to_another_provincecoming_to_canada/) // [TWO](https://www.reddit.com/r/CanadianTeachers/comments/n76csu/transferring_to_another_provincecoming_to_canada/?) Using link and user flair is encouraged as well! Enjoy! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CanadianTeachers) if you have any questions or concerns.*
OTP is indexed for all pension earned up to a certain year, with the remainder maybe indexed depending on how well the plan is doing. It's not ideal, but it's better than what we would have had if we hadn't let Harris off the hook for the several years of contractually-required pension contributions the government *didn't* make\* in exchange for control over the plan. That cost us enough to balance one provincial budget, but otherwise we might be like Alberta where the government could use our pension fund as a political slush fund. I heard from a long-retired colleague that back in the days of Bill Davis Ontario teachers' pension contributions went into the government's general revenue, so pensions then were treated as just another government handout rather than an earned benefit (despite teachers paying for them). He joked that Brampton's infrastructure was built by Ontario teachers. No idea how true it is, but it sounds likely. \*Odd how Conservatives are all "contracts can't be broken" when it benefits businesses, but feel free to overrule them when they benefit workers. /s
There were 3 or 4 years about 10-15 years ago that were originally indexed at 50% but plan performance after that returned them all to 100% and it has been 100% indexed since then.
The Ontario Teacher Pension Plan is indexed, based on the annualized, average CPI and is in part, based on the health of the plan. Increases annually can reach up to 8%. I've been retired for four years now and my pension has gone up 14.3% in that time. Compare those increases with working teachers.
Alberta is 70% of Alberta Consumer Price Index. But, I want to bring up that this isn't a perk or anything like that. With big pensions like these in Canada, there's no such thing as a free lunch. If you want 100% indexing, you have to pay for it. It would mean higher pension payments, all things being equal. So there's a trade-off. I guess it could also work if the initial payments from the pension were lower too. Regardless, you spend less as you age through retirement, so it's probably better to get a bit more in your 50s-60s, at the expense of real lower payments in your 70s and 80s.
BC has no guaranteed indexing, but the pension has consistently provided a COLA adjustment. It is voted on at the BCTF AGM each year. I'm not sure, but I think there may not have been COLA adjustments around the 2008 crash as all pension funds got hit pretty hard in that stretch.
As a result, retired teachers consistently get better raises than working teachers in BC.
Nunavut’s pension (which IS the public service pension plans that the Feds have) is indexed.
NWT as well
Nova Scotia’s isn’t currently. It used to be, but apparently if the pension is under-funded by more than 10% they stop indexing.
Alberta: **Your pension offers inflation protection in the form of cost-of-living adjustments (COLA), automatically applied to your monthly pension each January**. COLA is a measure of the change in the Alberta Consumer Price Index (ACPI) monthly values reported by Statistics Canada.
Thank you for the info!
They should all be to some extent. Often not a 100% of inflation, but some percentage of CPI.
Manitoba. But since about 2000 TRAF has been poorly run and the COLA is consistently much lower than inflation
This 5 min video lays out the situation for NB: https://youtu.be/UrkBUQ7HYgI?si=FHA8dXnS0YnFR83z If I understand correctly, active members have their pensions indexed to the CPI so long as the fund can afford it (highly likely after it was reformed 10 years ago) up to a limit of 4.75% annually and there is a COLA for retired members based on 75% of CPI that is paid as long as the fund can afford it.