News for Pensioners
Retirees Returning to Work Enrollment has been Extended to the end of 2022
The temporary exemption from mandatory participation that was applicable to NSHEPP pension recipients who returned to the workforce as Temporary Emergency Workers has been extended to December 31, 2022. Please
click here to read information about the extension.
Special Notice re Returning to Work after Retirement
Due to the exceptional circumstances around the global COVID-19 pandemic, NSHEPP recognizes a need to facilitate the process to allow retirees, who are currently in receipt of NSHEPP monthly payments, to temporarily return to work.
Click here for a Bulletin on details.
Inflation Adjustment for 2022
An important benefit of your pension is that it is subject to an inflation adjustment each January. The increase for January 2022 will be 3.0%. Members who received their pension for the full 12 months in 2021 receive this increase. Those who started their pension part way through 2021 receive a partial increase.
Your annual inflation adjustment is based on the change in the Canadian Consumer Price Index. The index is measured each September. Different pension plans may measure changes in the Consumer Price Index in different ways. This can cause year to year differences between pension plans in the amount of inflation adjustment that is granted. A comparison of how adjustments from several major public sector pension plans have compared over the past five years, and their five-year average is shown in the chart below.
(*TBD-to be determined)
In addition to this announcement, pensioners will be informed of the amount of the adjustment on their annual RBC Investor Services Electronic Funds Transfer Notification, to be mailed in late December 2021.