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Confirm contact information

Confirmation needed: contact information by November 4

The Contact Confirmation for Employers form will be ready for you on the File Pick-up section in October. Read on to find out what you need to do.


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EITR tool improvements

New Employee Information at Termination/Retirement tool time savers

In 2015, we launched the Employee Information at Termination/Retirement (EITR) tool and received great feedback from the pilot team. We’ve used that feedback to make the tool even better.

If you haven’t already, please recycle paper copies of the old EITR form and delete saved bookmarks.

What are the improvements?

  • You can run reports to see previously submitted EITRs:
    • You can see the names of those who submitted them.
    • You can also look up an EITR submission for a specific member. By entering a member's SIN, you can now review the individual submission history.
  • The current year is now pre-populated. Overwrite the year to report a termination from a previous year.
  • When you receive an error message, you no longer need to start the submission process over. You’ll return to the previous screen where you can fix your error and carry on entering the remaining EITR information.

For more information

Access our handy resources to help you use the EITR tool:


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Postal distruption update

Canada Post update

BC Pension Corporation continues to monitor the ongoing contract negotiations at Canada Post. We will provide updates here in the case of a labour disruption that could impact plan members or employers.


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Validate your LTD policies Oct 1-31

Validate your long-term disability (LTD) policies in October

Use the LTD Policy Validation tool to validate your approved group disability policy. The validation window is open from October 1–31.

It’s important to make sure your members continue to accrue pensionable and contributory service while receiving a long-term disability (LTD) benefit. You must report all changes to your LTD policy (commonly known as LTD policy information); otherwise, there might be a delay in receiving the service. Read on for details.


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Updated report for active members

For action: Active members with no service events in over one year report

We’ve updated our Active members with no service events in over one year report. Read on for the steps you need to take.


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How to enrol employees

Need to enrol a 10- and 12-month teacher in the plan? Here’s how

Do you have an employee who is eligible to enrol in the plan? Is this employee also a 10-month summer school teacher and a 12-month school teacher?

What to do

  • Complete a separate Plan Member Record for each group (10-month or 12-month) the new employee belongs to
  • Submit the form within 30 days of them being hired

Remember to submit your reporting information for an employee based on the group (10-month or 12-month) they belong to.

Accessing the Plan Member Record

  • Log on to the secure Employer site
  • Under Employer Reporting, click More
  • Click Plan Member Record Electronic Form

For more information


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E-Remit help

Remitted contributions don’t match your Payroll Report? Here’s some help.

Electronic remitting (E-Remit) is our standard process for remitting contributions to the plan. Ensuring your remittance matches the data on your Payroll Report saves you time and effort later. We know balancing your remitted contributions and salary to the data on the Payroll Report is easier said than done. That is why there’s a form called Balancing Help on the secured Employer section of our website. The form includes total remittances to date and a guideline for balancing remitted funds to payroll data.

Here’s how to access the form

  1. Log on to the secure Employer section of the plan website with your username and password.
  2. Click E-Remittance under the Financial Reporting section of the Resources box.
  3. Click Balancing Help to download the PDF.

Why this is important

  • Balancing remittances to your Payroll Report ensures the pension plan has correct information for members’ pension benefits and pension adjustment statements.
  • Accurate data is critical in calculating benefits for members on retirement or termination.

If we receive unbalanced data, we might request you research and fix errors from several previous pay periods.

If you have any questions, contact the Employer Operations at emopsfin@victoria1.gov.bc.ca.


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Age 71 employee deadline

Reminder: November 30 is the last day employees aged 71 are eligible to contribute to the plan

Do you have employees turning 71 this year? There are a few things to consider.

Under the Income Tax Act and its regulations, an employee must start receiving their pension no later than the end of the year in which they turn 71. This means your 71-year-old employees must start collecting their pension no later than December 1 of the same year. It’s also your responsibility to ensure you don’t collect contributions from these employees after November 30.

Your employees aged 71 can keep working without interruption, but you must stop collecting pension contributions from them. Submit final salary, service and contributions up to November 30 to the plan on or shortly after November 30.

For example: You have an employee born in 1945 who will turn 71 in 2016. You must stop collecting contributions for this employee effective November 30, 2016, even if they are born in December. Your payroll report must not include service, salary or contributions beyond November 30.

We send your employees a pension estimate and retirement application package in the year they turn 71. Please ensure we have their current contact information.

More information


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Join the Small Employer Forum

Power in numbers—the Small Employer Forum

Would you like tips to help you with data submission and other pension administration? Do you have 1,000 or fewer employees? Then join us at the annual Small Employer Forum this fall.

Learn more about how we’re working to make your data submission experience easy!

It’s a fun and informative group that

  • Guides each other through the year-end reporting process
  • Shares ideas and feedback
  • Discusses best practices
  • Networks

Meet the Employer Operations team November 10 in Vancouver.

How to become a member

For more information


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Read the 2015 Annual Report

The Teachers’ Pension Plan 2015 Annual Report is now live

Did you know the plan’s funding ratio is now 102 per cent—higher than it’s been in more than 30 years? That it has more than $127 million invested in Alphabet Inc., Google’s parent company? That the number of new pensions started in 2015 was the lowest since 2001?

Find this information and more in the 2015 Teachers’ Pension Plan 2015 Annual Report. It’s a great way to learn more about the plan and how it provides value to both employers and members.


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Updated Employer Instruction Manual

Employer Instructions Manual updates

Check out important updates to the Employer Instruction Manual available July 22.

Updated section

  • Section 7 – Reporting
    • 7.3 Payroll reporting
    • 7.3.2.2 Calculating pensionable service
    • 7.3.3.4 Maternity/parental/adoption leave top-up
    • 7.3.3.7 Substitution pay
    • 7.3.3.8 Modified school calendars and extended spring break
    • 7.3.4 Contributions
    • 7.8.3 One year, no contributions

What you need to do
Consult the manual online for the most current information. Please inform other relevant contacts in your organization about these changes.

Note: The Employer Instruction Manual is now being updated as needed; you’ll be notified of changes through the newsletter.


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Employer website updates coming soon

Making it more intuitive—improved employer website coming this fall

When reporting your employees’ pension data, it’s important to be able to find the information, tools and instructions you need quickly and easily. That’s why your employer website is being updated.

What this means for you

You’ll find related information, tools and instructions together on the website where it makes sense. For example, instructions for processing pension adjustment statements or your Payroll Report will be in the same area as all the other reporting instructions.

Please share this information with the appropriate contacts in your organization.
Stay tuned for an improved employer website this fall!


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Employer Advisory Council meeting

Highlights from the spring 2016 Employer Advisory Council

In May 2016, our Employer Advisory Council met to network, discuss common experiences and hear more about what the Pension Corporation is working on. The overarching themes for the meeting were:

  • Union of BC Municipalities feedback and update
  • Employer reporting research
  • Pension Corporation updates
  • Employer reporting
  • Member curriculum redesign
  • Future council meetings

For details on the discussions, check out the Employer Council Communiqué located on the secure Employer website. Once there, you can review the member list to see which employers belong to the group.

Next meeting

November 9, 2016, at the Executive Airport Plaza Hotel & Conference Centre in Richmond, BC.

More Information

For further details about the council, including how to become a member


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Pensions in the news

Pensions in the news—a pension could be the deciding factor for your new hires

New research from the latest ADP Canada Sentiment Survey shows the majority of Canadians (77 per cent)—with the highest (88 per cent) in BC—think a pension is so important they’d consider leaving their current job for a new one with a pension plan. Read on for the full story.



Legend
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