As of March 28, you should be entering pensionable earnings to the pennyóno longer to the dollar. Take your salary information straight from your payroll reports. This will make your remittances and your balancing process more accurate.
Please send in your Employee Information at Termination or Retirement forms for employees retiring July 1, as soon as possible. As most of your employees are on set contracts and the contract values do not change, you do not have to wait until June 30 to submit the information.
Here are details for completing your Employee Information at Termination or Retirement forms.
What you need to do
Log in to the employer secured site.
Complete a form for each terminated or retiring employee.
Email the forms to TPP@pensionsbc.ca or fax to (250) 356-8977. (Note: if you email or fax us your forms, you do not need to send originals by mail.)
Why this is important
Because retirements peak at the end of the school year, both you and the Teachersí Pension Plan have a short period to process the high volume.
Your help ensures all retiring members receive their pension on time.
For more information
Contact Janice Chenery or Grant Denning, Client Service Managers, Teachersí Pension Plan, at (250) 953-3022 or 1 800 665-6770.
As we continue to improve how we do business to better serve you, weíre introducing a new, online long-term disability (LTD) validation tool in a few months. You will be able to use this online tool to annually verify your LTD policy information. Hereís how youíll benefit from this validation process:
An easy-to-use tool that will require only minutes to validate your LTD policy information.
More timely information sharing between you and the Teachers' Pension Plan.
Confidence that the Teachers' Pension Plan has your current LTD policy information.
Your employees will correctly accrue LTD service in the plan.
A seamless transition for LTD starts and stops.
If you havenít validated your LTD policy information before, no worries. Itíll be easy. To assist you, instructions, and other details about this new, online tool, will be provided in the May and June Newsletters.
Purchasing service? Read this
More purchasing service options available for members
Effective April 1, Teachers' Pension Plan members are eligible to purchase a leave of absence (or a period of reduced pay) even if they contributed to the Teachers' Pension Plan with a different employer or to another registered pension plan.
Both general and Employment Standards Act leaves ending after March 31, 2015 are affected by this plan rule amendment.
For income tax purposes, members who wish to purchase a leave where they have contributed elsewhere during the period must apply after April 30th of the year following the end of their leave. The timing for applying to purchase all other leaves has not changed.