Organizational structure of the plan
Learn how BC's Teachers’ Pension Plan is structured and organized.
The Teachers' Pension Plan provides secure retirement income for more than 100,000 plan members, including teachers, vice-principals, principals and superintendents from school boards across the province. There are:
- About 49,000 active members (working and contributing to the plan)
- About 40,000 retired members (receiving a pension)
- About 12,000 inactive members (no longer working for a plan employer but have left their contributions with the plan and may be eligible for a pension)
The above numbers include limited members.
As of December 31, 2020, the plan had investment assets of more than $34 billion, making it the eighth-largest pension plan in Canada.
The Teachers' Pension Board of Trustees (board) is responsible for plan governance. The board is made up of five trustees appointed by the plan member partner (BC Teachers' Federation) and five trustees appointed by the plan employer partner (the provincial government).
The board is responsible for governing the plan and managing the pension fund, which includes pension plan administration and investment of assets. It makes decisions and provides direction to:
- British Columbia Pension Corporation (the plan's administrative agent) on administration of the plan, including services to members
- British Columbia Investment Management Corporation (the plan's investment agent) on management of the plan's assets
The following service providers also play an important role:
- Eckler Ltd. (an independent actuary) assesses the plan's financial health every three years
- KPMG (an independent auditor) audits the plan's financial statements each year per Canadian generally accepted auditing standards
- Green Shield Canada provides voluntary extended health care and dental coverage for eligible retired plan members
- Lawson Lundell provides legal counsel to the plan
- Willis Towers Watson is the plan’s benefit advisor