How pension contributions work

You contribute to your pension through automatic payroll deductions. Your employer also contributes to your pension. 


What are the contributions?

Both you and your employer make contributions to BC's Teachers' Pension Plan.

Your contributions are automatically deducted from each paycheque and paid directly to the plan with your employer's contributions. Both your contributions and your employer’s contributions are based on a percentage of your salary.

Current contribution rates (as of January 1, 2019):

  • You contribute 11.17 per cent of your salary
  • Your employer contributes 11.30 per cent of your salary

A portion of the pension contributions (3.00 per cent of salary from you and 3.13 per cent of salary from your employer) is transferred to the inflation adjustment account. This account is used to pay for annual cost-of-living adjustments (COLAs) that may be added to monthly pension payments. COLAs are not guaranteed, but once granted, become part of your lifetime pension.

When you stop contributing to the plan

Once you start contributing to the plan, you'll remain an active plan member until you leave your job or retire.

If you are on long-term disability, you do not make contributions to the plan; however, you will continue to earn contributory and pensionable service as though you had continued to work.


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