Pension Life - Winter 2021

News for retired members

Welcome to the winter issue of Pension Life online. Here you can access your pension news and plan updates anytime. Plus you’ll find new online features, quick links to all your pension resources and more!

Watch the website for updates, and don’t forget to register for My Account so you can access all your information in one place.

Taxes: T4A available online

Your current and previous T4As are available through My Account. Sign in to My Account today to view and print your T4A.

View your tax slip

Retirees’ association

Municipal Pension Retirees’ Association (MPRA) represents retirees of the Municipal Pension Plan.

Join for the opportunity to talk to other retirees and their spouses about pension issues, meet former co-workers, make new friends and have a voice about your MPP pension.

Learn more (opens external website)

Updates from Pacific Blue Cross

There are new resources for members:

  • Learn about diabetes management, including a risk questionnaire
  • Explore how you can save money at the pharmacy by getting your prescriptions filled at a Preferred Pharmacy Network partner
  • See your new coverage limits for extended health benefits that take effect on January 1, 2021—including new dispensing fee frequency limits.

Learn more (opens external website)

Pension Life is published twice a year. You may receive more than one copy of Pension Life if you receive a pension from more than one pension plan. Read your statement letter to determine which plan provides your group benefits. Any person entitled to a benefit, or their agent, has the right to examine plan documents, data and public information about the plan.

Man smiling and looking out through binoculars

A new outlook

The plan prepares for tomorrow

In this winter update, learn about health coverage improvements, your cost-of-living adjustment, plan design changes, and where to find more about plan investments and the board’s strategic plan.

Read more

Woman smiling and looking up towards the sky while hiking

Your 2021 cost-of-living adjustment (COLA) is here

Your pension has gone up 0.5 per cent

Your COLA is based on the increase in the Canadian consumer price index. This cost-of-living adjustment is applied to your lifetime pension and, if applicable, your bridge benefit and temporary annuity while you receive them.

Read more

Health care and dental updates


Extended health coverage improvements

The board has completed its comprehensive review of the group benefits program. The result is improved extended health care coverage for you. The changes include:

  • Increasing vision coverage to $250 every two years and including eye exams for all with extended health care coverage
  • Restructuring paramedical reimbursement to $500 annually per service type per person; previously some of the service types were combined
  • Adding coverage for the shingles vaccine

If you are enrolled in the extended health care plan, you do not need to take any action to receive the improved benefits.

Learn more


Health care and dental rates

The new monthly rates are in effect as of February 1, 2021, and may change at any time.

View plan premiums


Prescription-saving tips

Did you know you can save money on prescriptions by choosing where you get your prescription filled?

Learn more

Tips and tools


Taxes

Six tips for tackling your tax return in retirement
Learn how receiving a pension affects your tax return—and how you can make filing your taxes easier.

Your tax questions answered
It’s that time again! Find out how to reduce your taxes through income splitting or additional deductions.


Cost-of-living adjustments

Keeping your plan funding in check
Learn how valuations help keep your pension secure in this new learning article.


Payments

Your payment dates
Find out when to expect your next monthly pension payment.

How to manage your banking information
Learn how to easily update your banking information and sign up for direct deposit, wherever you live.