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

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

If you are already an active participant in the BCCPP, you cannot opt out of participation.

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. 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.

Pension benefits in the BCCPP are subject to plan rules 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.

Given that you do not meet the BCCPP’s definition of full-time employee, you have the opportunity to opt out of joining the BCCPP at this time. Your opportunity to opt out at this time is subject to the BCCPP rules (see below for forms to fill out).

Whether you wish to join the BCCPP at this time or not, please fill out a Declaration of Employment within 30 days of receiving access to this link and submit this to pensions@sfu.ca.

In addition to returning the Declaration of Employment, if you do not wish to join the BCCPP at this time, please fill out and return this waiver to pensions@sfu.ca within 30 days of receiving access to this link. If you decide not to join the BCCPP at this time, please note:

  • Any pension plan contributions deducted from your pay will be reimbursed to you.
  • You may join the BCCPP at any time in the future; however, your participation will not be retroactive.
  • You will be required to join the BCCPP if you become a full-time employee or if your earnings in a calendar year exceed the BCCPP’s annual earnings threshold, i.e., 50% of the Yearly Maximum Pensionable Earnings (YMPE) as defined under the Canada Pension Plan, which is currently $32,450 (i.e. 50% of $64,900, the 2022 YMPE).

If you decide not to join at this time and elect to join in the future before you become subject to mandatory enrolment, please contact pensions@sfu.ca.

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.