A message from the trustees

Did you know that your pension helps grow the British Columbia economy? As a retired member of the Teachers’ Pension Plan, you are one of thousands who strengthen the economy by spending pension dollars here at home.

As trustees, we focus on the long-term value and sustainability of your pension. A stable, defined benefit pension doesn’t just support members; it supports communities and reduces pressure on public services.

How do defined benefit plans boost economic growth?

What you do in a typical day contributes to a strong economy. When you spend local, you do your part to make BC communities more resilient in the face of uncertainty. Because the plan provides a secure and stable income in retirement, you can support BC businesses more dependably than people who don’t have a defined benefit pension plan.

Pensions drive economic growth for BC and Canada. Each time you buy groceries, pay for housing or go to your local mechanic, you help create jobs, increase tax revenue and help generate billions of dollars in federal and provincial gross domestic product. Across BC’s public-sector pension plans, research estimates that every $10 paid to retired members supports $15.33 in economic activity, according to the Canadian Centre for Economic Analysis report, The BCI Ecosystem: Economic Contribution 2024. By living your day-to-day life, you help local businesses and services thrive in urban and rural communities across the country.

Beyond the impact of retiree spending, the plan’s investments also support economic growth. By investing for the long term, the plan helps fund businesses and infrastructure that contribute to job growth, tax revenue and economic stability across BC and Canada.

Pensions help all Canadians

Your pension has a positive impact on Canadians who aren’t plan members. Your pension is part of a retirement puzzle that fits together with other supports provided by Canada’s social safety net. Retirees without a defined benefit pension may rely more on this social safety net; retired members with a defined benefit pension are statistically shown to rely on it less, according to the Health Care of Ontario Pension Plan report, The Future of Retirement Security in Canada. This balance can help make public programs more sustainable, which benefits current and future Canadians.

Pensions continue to work in retirement

We monitor the plan’s long-term health so pensions remain predictable and sustainable, ensuring you can count on this income in retirement. As an educator, you dedicated time and energy to earning your pension. Your pension continues to work for you after you retire, with benefits that extend beyond your household, affecting people across Canada.