October 2019

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LTD policy validation window Oct 1-31

It’s time—validate your group disability plan information by October 31

Use the LTD Policy Validation tool to validate your approved long-term disability (LTD) policy (also known as a group disability plan). The validation window is open October 1–31.

Why it’s important

When you have an LTD policy approved for pension purposes, your employees who are plan members are credited with pensionable and contributory service. No contributions are required from you or your employees.

Although it is optional, we encourage you to apply to have an LTD policy approved for pension purposes.

Read on for details.


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Valuation report coming soon

The results are in—watch for the Municipal Pension Plan valuation report

The Municipal Pension Plan 2018 valuation is complete.

The most recent valuation, conducted as at December 31, 2018, was received by the board in September.

The board will announce details in a board communiqué. Visit the plan website to read the news.

What this means for employees

Member contribution rates will not increase because of this valuation.

What this means for employers

Contribution rates will not be affected by the valuation, but your unique contribution rate will change because of your employee demographics and blended contribution rate. You will receive a letter with your rate in October.

More information


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2018/19 corporate Annual Report

Read Pension Corporation’s 2018/19 Annual Report

Pension Corporation’s (corporation’s) 2018/19 Annual Report is available October 1. The report provides an update on our nine-year business transformation plan, From 12 to 21: Our Way Forward, and highlights many of our achievements over the last year. Read the report for a discussion about our performance in 2018/19, which includes:

  • Strengthening our relationship with plan employers through education, outreach activities and partnership building
  • Launching new online services and further enhancing the quality of service to members
  • Inspiring confidence with risk management and reliable cyber security

Learn more about the corporation, our transformation strategy and how we continue to provide professional, high-quality service to plan members, employers and boards of trustees.

The annual report is available October 1 online at bcpensioncorp.ca.


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MSP premiums

No more Medical Service Plan premiums as of January 1, 2020

The BC government is eliminating Medical Service Plan (MSP) premiums starting January 1, 2020.

What you need to do

Update your payroll system to align with Health Insurance BC’s (HIBC’s) system starting January 1, 2020.

For employees who end employment before January, continue to pay premiums until the end of December. HIBC will send you an invoice.

What your employees need to do

In preparation, all of your employees should keep their contact information—especially if they have or are about to move—up to date in My Account. (Alternatively, if they provide you with their current address, please pass it on to us.)

Employees retiring before January 1, 2020 will need to complete the MSP application form available in My Account in August 2019.

HIBC will automatically create a self-administered MSP account for each of your retiring employees and their dependants. It’s important they keep their current address on file until January 1, 2020.

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MPP AGM
Oct 17, 2019

Come to the Municipal Pension Plan AGM—
October 17, 2019

The Municipal Pension Plan annual general meeting is an opportunity to learn important information about your pension plan. This year’s meeting includes the following:

  • 2018 financial highlights
  • 2018 actuarial valuation report
  • Post-retirement group benefits review update
  • Investment update
  • Q&A with trustees

All members and employers are invited to attend. Join us in person or by webcast. You can register for the webcast any time.

What
2019 Annual General Meeting

When
October 17, 2019
10:00 a.m.–12:15 p.m. (preview slides begin at 9:45 a.m.)

Where
Anvil Centre
First-floor ballroom
777 Columbia Street
New Westminster, BC

Or

Online at mpp.pensionsbc.ca

We hope to see you!


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Employer Council Nov. 13, 2019

Join us at Employer Council—the most exciting employer event of the year

Would you like an opportunity to network with other pension plan employers, discuss common experiences and hear more about what Pension Corporation is working on? No matter the size of your organization, join us at the Employer Council this fall.

Employer Council is an opportunity to pause, have some fun and be informed.

  • Share ideas, feedback and common experiences
  • Discuss best practices
  • Hear what Pension Corporation is working on
  • Network

Join Employer Operations November 13, 2019, from 9 a.m. to 4 p.m. in Vancouver at the Best Western Plus Chateau Granville.

If you haven’t attended a meeting in the last year and would like to attend, contact Employer Operations by October 11, 2019.

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Employer education

Employer education offered over the next four months

Whether you’re new to employer reporting or simply wanting a refresher, we have free education to help you.

  • Hot Topics webinar series—monthly one-hour webinars focus on timely topics to answer your questions and give you a chance to share your experiences with other employers so you can succeed at pension administration

    Note: Starting October 2019, we will no longer be sending email reminders. Visit the website to register for a webinar.

  • Payroll Reporting Refresherlearn everything you need to know about preparing and submitting year-end payroll reports in this two-hour, instructor-led webinar
  • eLearning—updated eLearning you can take at your convenience to learn about pension administration

For more information, including dates and registration, visit the Employer Education section of the secure employer website.


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Host a workshop or webinar

Let us know if you want to host free pension education

Did you know you can request a free in-house workshop for your employees?

If you have 20 to 35 employees, we can bring a free workshop to you.

You and your employees can experience the advantages of free pension education workshops without leaving town.

Did you know you can request a webinar for your employees?

Webinars are a great option for those who are located in a remote area or have a small group of employees.

Visit the Host a workshop or webinar page on the secure employer website for details, including posters you can put up in common areas.

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Legend
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