SFUFA Member - BC College Pension Plan (BCCPP) Mandatory Enrollment

Following your recent appointment with SFU, we include below key information regarding your pension benefits entitlement.

Under the terms of the 2019-2022 Collective Agreement, all eligible SFU Faculty Association (SFUFA) members hired on or after July 1, 2021 will be enrolled in the BC College Pension Plan (BCCPP). The BCCPP is a multi-employer defined benefit plan, which is administered by the Pension Corporation of British Columbia.

You have been enrolled in the BCCPP effective on your appointment start date, in accordance with the BCCPP rules. Note that if you are currently in receipt of a pension from the BCCPP, you cannot accumulate further benefits in the BCCPP. Please notify pensions@sfu.ca if this is the case.

Your pension benefits will be subject to the rules of the BCCPP, which provide that employees and employers must contribute to the plan at a rate that is determined by the BCCPP Board. That rate is subject to change and is currently 10.24% of pensionable earnings for employees and 10.34% of pensionable earnings for SFU. In addition, an Incremental Contribution Rate (ICR) of 1.68% of pensionable earnings is to be contributed at a rate of 0.84% by SFU and 0.84% by employees, to reflect the financial position of the BCCPP upon SFU joining that plan and ensure that existing members were not disadvantaged. In accordance with the Collective Agreement, to offset this additional deduction of 0.84% reflecting your share of the ICR indicated above, you will receive incremental earnings in the same amount.

Your total contributions of 11.08% (10.24% regular contributions plus 0.84% ICR) of pensionable earnings will be tax deductible.

For more information on the BCCPP, please consult the BCCPP website at https://college.pensionsbc.ca/ or contact them toll-free at 1-888-440-0111. The Guide for Plan Members contains valuable information to help you learn more about plan membership and your pension.