Understand your member benefit statement

Your statement is an annual snapshot of your pension information and includes estimates of your potential future pension.

As an active member of the BC Municipal Pension Plan, you will receive a member’s benefit statement (MBS) every May. Your MBS can help you understand how much your future pension payments may be when you retire. It’s also your annual reminder to double-check that the information we have about you is up to date.

Three things to know about the pension estimates on your statement:

  • The service and salary information is based on everything you have earned or accrued up to December 31.
  • The service projected into the future presumes you will continue to work in your current job, at your current pay, uninterrupted, until you retire.
  • The earliest unreduced pension age you see listed is when you are eligible for an unreduced pension on all your service. For most plan members, the normal retirement age is 65, and the earliest retirement age is 55.

Note: Your normal retirement age and earliest retirement age depend on whether you work in public safety. If you work in public safety as a police officer or firefighter, your normal retirement age is 60 and your earliest retirement age is 50.

For all other members of BC's Municipal Pension Plan, your normal retirement age is 65 and your earliest retirement age is 55.

The number of estimates in your MBS depends on your age now and is based on different retirement ages.

Use the personalized pension estimator in My Account to see how different retirement ages affect your pension. These estimates can help you plan for your future.

If you receive an MBS but do not have access to online services in My Account, you can rely on your MBS pension estimate to be equally accurate until your pensionable earnings and/or service information changes.

Your pensionable salary and service

This shows your pensionable earnings, which is the portion of your salary used to determine your contributions to the plan. It also shows your pensionable service, which is your actual working time as a plan member. You earn one month of pensionable service for each full month of full-time work that you complete.

Shift work and pensionable service

If you are a full-time employee and don’t take any unpaid leaves of absence, you should be credited with a full year of pensionable service. This is true even if you don’t work a regular number of hours per week or month and if your shift rotation changes during the year.

To make sure you receive your full pensionable service, check your Member’s Benefit Statement each year.

If you are a full-time shift worker, and you work all shifts available to you, you should receive full pensionable service even if you don’t work a regular number of hours per week or month, as long as you don’t take an unpaid leave of absence. This is true even if your shift rotation changes during the year.

View an example of a Member’s Benefit Statement.

Getting your statement

Most members can view a digital version of their statements in My Account. If you haven't registered yet, or have not opted to go paper-free, then you will still receive a paper MBS. Paper statements will either arrive by mail or via your employer.

Switch to paper-free statements

To make the switch to paper-free statements, sign in to My Account and update your communication preferences in your Account settings.

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