MPP adds value to your organization
Provide your employees with pension peace of mind
Value of the plan
995Employers |
470,000Members |
$86.9 BillionNet assets |
$2.9 BillionPensions paid in one year |
Benefits for you
- Retirement income security is a powerful incentive for job seekers
- Employers who offer pensions enjoy higher retention rates
- Employer costs are stable and predictable
- Administration is made easy – high quality administration services provided by BC Pension Corporation
- Resources available to you
- British Columbia Investment Management Corporation (BCI) provides investment management services to the plan
Resources
Benefits for your employees
- A pension for life
- Automatic contributions for ease and peace of mind
- Investments are safely and professionally managed
- Employer contributions help build their pension
- Access to extended health and dental benefits in retirement through the Municipal Retiree Benefit Trust
- Benefits if you get sick and protection for your loved ones if you pass away
Resources
Did you know?
The Municipal Pension Plan has many great features...
- It’s a pension is for life
The Municipal Pension Plan is a defined benefit plan. The amount of pension members receive in retirement is based on a formula involving salary and years of service and is paid for as long as they live. This makes it easy to predict retirement income.
- It’s pre-funded and built to grow
Members and employers pay for the pension in advance by contributing a portion each payday. These contributions are pooled and invested. When members retire, about 75 per cent of the cost of their pension will come from these plan investments.
- Members may receive cost-of-living adjustments (COLAs) to help offset rising inflation
MPP offers annual inflation protection. Once a COLA is provided by the Municipal Pension Board of Trustees, it becomes a permanent part of a member’s basic lifetime pension.
- It provides protection for loved ones
Certain pension options allow members to arrange for their pension to be paid to a nominated beneficiary after their death.
- It’s professionally managed at a low cost
The total cost of investment management and pension administration for this plan is less than half of one per cent, significantly less than what individual asset managers typically charge for investment management fees.
- It’s monitored so it stays on track
At least every three years, the plan undergoes an actuarial valuation. Valuations are a financial check-up conducted by an independent actuary, a professional with specialized knowledge of finance, statistics and risk theory. Think of it as a health check for a member’s future income!
