Employer enrolment

Investing in your future

Welcome to the Municipal Pension Plan!

If you are thinking about joining the plan this is a big and exciting step for your organization. There’s a lot to consider and you’re probably wondering how the plan is right for you and your employees.

Benefits of enrolment

The plan is the largest pension plan in British Columbia, and one of the largest in Canada. The plan is a defined benefit plan, which means a member’s pension is based on a formula of highest average salary and pensionable service, and not the amount of contributions or the fund’s investment returns. Upon retirement, members are eligible to receive a pension benefit for life. With a proven track record of good governance and a focus on prudent, sustainable management, the plan is the ideal choice for employers wanting to attract and retain great employees. Here’s how the plan can help your organization:

• Retirement income security is a powerful incentive for job seekers
• Employer costs are stable and predictable
• Administration is made easy
• Resources are available to you
• British Columbia Investment Management Corporation (BCI) provides investment management services to the plan

The Municipal Pension Board of Trustees (board) provides direction to BCI, the plan’s investment agent, regarding management of the plan’s assets. BC Pension Corporation (corporation) serves as the administrative agent of the board. The corporation collects pension contributions, processes benefits and issues pension payments.

The plan has a joint trusteeship governance structure. This means that representatives of both plan members and employers share management of the plan. There are more than 900 employers in the plan.

For more information, check out the plan website under About us – Who we are (for plan rules and governance) and Research and advocacy (for value of the plan) – for valuable resources.

Eligibility