The BCTF research report on Teacher salaries in BC, July 1, 2010, identifies the salary minimum and maximum for Category 4, Category 5, Category 5+ and Category 6
The Salary Indemnity Plan is not insured by an insurance company regulated under theFinancial Institutions Act. The BCTF is exempt from the regulatory requirements of theFinancial Institutions Act.
Who contributes to the Salary Indemnity Fund?
Effective 2014–15, each teacher contributes 1.67% of salary earned. Of that, 0.46% supports the short-term portion of the plan and 1.21% supports the long-term portion.
All teachers must contribute to the short-term portion of the plan. However, if a teacher has reached factor 88, 64 years of age, or is in receipt of a registered pension, she/he may withdraw from the long-term portion of the plan.
Who is eligible to collect benefits from these plans?
Under the short-term portion of the plan, a teacher may receive benefits from the plan, beginning the day after the last day of paid work or sick leave, if the teacher is prevented, by illness or injury, from performing her/his normal employment duties. A teacher may receive short-term disability benefits for 120 days.
Once into long-term disability, a teacher may receive benefits for up to one year, being disabled from her/his own “occupation.” After that first year, the teacher must be suffering from a mental or physical disability that prevents the teacher from performing the duties of any gainful employment, and is designated as being disabled from “any occupations.”
Who pays the benefits?
Short-term claims are adjudicated and paid by the BC Teachers’ Federation, while long-term claims are adjudicated and paid by Great-West Life. However, this is not an insured plan. Both short-term and long-term benefits are paid directly from members’ Salary Indemnity Plan fees.
How long can a teacher remain on benefits?
Once a teacher has been in receipt of benefits for 90 days, a medical specialist must support the claim. A teacher can continue to receive benefits from the plan so long as the on-going medical supports the claim.
How many people are currently receiving benefits?
There are approximately 1,750 teachers currently receiving short-term or long-term benefits from the plan.
How do we know if we have enough money to pay these claims?
The Plan is subject to an actuarial evaluation each year. As a result, we always know the status of the funding of the plan and the Salary Indemnity Plan fee is reviewed annually.
Could the plan run out of money and not be able to pay benefits to teachers currently on claim?
As of June 30, 2014, the fund has assets of approximately $273 million. There is sufficient money set aside to pay the benefits to all teachers who are currently on claim. The fund is invested and managed professionally, in accordance with BCTF policy, and the BCTF Finance Committee oversees the investment managers each quarter. The fund is diversified, and invested conservatively.
In October 2012 the Teachers’ Pension Plan Board of Trustees released the results of the 2011 actuarial valuation of the Teachers’ Pension Plan basic account. This is a complex process that requires the actuary to calculate the present value of all liabilities ($20.7 billion ) and assets ($19.8 billion) to determine the funded status of the plan based on economic and demographic assumptions. This ensures the plan’s financial health and stability for the approximately 46,000 active members of the plan. As a result the plan is 96% funded and has an unfunded liability of $855 million.
The Board identified three key factors that contributed to the unfunded status of the plan:
underperformance in Canadian and global markets limited investment gains
life expectancy of plan members is increasing
fewer plan members than anticipated.
Due to the funded position of the plan, the Joint Trust Agreement governing our pension requires a 2.6% increase in the contribution rate to be shared equally between plan members and the employer. These rate increases will come into effect as of July 1, 2013.
MemberEmployer Old ratesRates effective
July 1, 2013Old ratesRates effective
July 1, 2013Below YMPE*11.2%12.5%13.33%14.63%Above YMPE*12.7%14%14.83%16.13%
* The YMPE is the year’s maximum pensionable earnings for the set by Revenue Canada. The YMPE for 2012 is $50,100.
If you are considering purchasing service for a leave of absence that ended within the past five years you can save money by submitting your application to your employer before June 30, 2013. All applications for received before this date will be based on the current contribution rates. For more information visit the Teachers’ Pension Plan website: www.tpp.pensionsbc.ca or contact the plan by email: tpp@pensionsbc.ca or by phone 1-800-665-6770 (toll-free in Canada and US).
Salary Indemnity Plan (SIP)—Long-term
Frequently asked questions
Note:
The Salary Indemnity Plan is not insured by an insurance company regulated under theFinancial Institutions Act. The BCTF is exempt from the regulatory requirements of theFinancial Institutions Act.
Who pays the teacher’s fees?
Fees like BCTF, local dues and SIP are all waived while in receipt of both short and long-term benefits. However, those fees will be deducted for any portion the member is working accommodation employment. (Regulation 7.3—locals and the BCTF also waive their fees)
Members pay a fee (in 2012, the fee was 1.63%) that is allocated to the short-term and long-term portion of the Salary Indemnity Plan. That fee is fixed annually at the AGM of the BCTF. Members may withdraw from paying the long-term portion of the fee once they have reached factor 88 (sum of age and years of service) or 64 years of age or age 65. However, withdrawal should only occur if the member has enough sick days accumulated that will allow them to remain at full salary should they become medically unable to work prior to reaching factor 90.
Are my medical bills paid by GWL?
No, SIP Regulation 3.8 says: “Expenses incurred by the member in obtaining medical certificates or other requested information under this regulation shall be borne by the member….” The only exception is when a member is required to submit to an independent medical examination (IME) by medical professionals selected by the plan administrator
(Regulation 3.4).
You have my claim, how long do I wait for a decision? What is the LTD claim process?
If they have the necessary information, GWL often turns around a decision within a few weeks. However, it is not unusual for GWL to require further medical information or a clarification on the medical information submitted as part of the application. If this is the case, members are notified by GWL. It is likely GWL will telephone a member for an interview prior to the decision. Once a decision has been reached the member is contacted by telephone with a follow-up letter.
Why does GWL ask for additional medical and other information?
SIP Regulation 3.7 indicates that: “A member in receipt of benefits for more than three months will be required to provide supporting medical evidence indicating that he/she is receiving ongoing care and treatment by a specialist and/or registered therapist for that disability, except where the Plan Administrator is aware that the disability is terminal.”
All regulations are passed at BCTF Annual General Meetings by a 75% majority of the delegates. Great-West Life must adjudicate and manage the claims according to the regulations they have been given.
What happens to my extended health benefits and am I covered?
While on LTD benefits a member’s continued involvement in their district’s extended health benefits plan (EHB) will depend on the language in their Collective Agreement. Many plans require members to pay both the employee and employer’s share of contributions to remain on their EHB plan while on LTD. It is important to check with your local union office to ensure you maintain coverage while on LTD.
Salary Indemnity Plan (SIP)—Long-term
Frequently asked questions
Note:
The Salary Indemnity Plan is not insured by an insurance company regulated under the Financial Institutions Act. The BCTF is exempt from the regulatory requirements of the Financial Institutions Act.
Who pays the teacher’s fees?
Fees like BCTF, local dues and SIP are all waived while in receipt of both short and long-term benefits. However, those fees will be deducted for any portion the member is working accommodation employment. (Regulation 7.3—locals and the BCTF also waive their fees)
Members pay a fee (in 2012, the fee was 1.63%) that is allocated to the short-term and long-term portion of the Salary Indemnity Plan. That fee is fixed annually at the AGM of the BCTF. Members may withdraw from paying the long-term portion of the fee once they have reached factor 88 (sum of age and years of service) or 64 years of age or age 65. However, withdrawal should only occur if the member has enough sick days accumulated that will allow them to remain at full salary should they become medically unable to work prior to reaching factor 90.
Are my medical bills paid by GWL?
No, SIP Regulation 3.8 says: “Expenses incurred by the member in obtaining medical certificates or other requested information under this regulation shall be borne by the member….” The only exception is when a member is required to submit to an independent medical examination (IME) by medical professionals selected by the plan administrator
(Regulation 3.4).
You have my claim, how long do I wait for a decision? What is the LTD claim process?
If they have the necessary information, GWL often turns around a decision within a few weeks. However, it is not unusual for GWL to require further medical information or a clarification on the medical information submitted as part of the application. If this is the case, members are notified by GWL. It is likely GWL will telephone a member for an interview prior to the decision. Once a decision has been reached the member is contacted by telephone with a follow-up letter.
Why does GWL ask for additional medical and other information?
SIP Regulation 3.7 indicates that: “A member in receipt of benefits for more than three months will be required to provide supporting medical evidence indicating that he/she is receiving ongoing care and treatment by a specialist and/or registered therapist for that disability, except where the Plan Administrator is aware that the disability is terminal.”
All regulations are passed at BCTF Annual General Meetings by a 75% majority of the delegates. Great-West Life must adjudicate and manage the claims according to the regulations they have been given.
What happens to my extended health benefits and am I covered?
While on LTD benefits a member’s continued involvement in their district’s extended health benefits plan (EHB) will depend on the language in their Collective Agreement. Many plans require members to pay both the employee and employer’s share of contributions to remain on their EHB plan while on LTD. It is important to check with your local union office to ensure you maintain coverage while on LTD.
老師自己交
each teacher contributes 1.67% of salary earned. Of that, 0.46% supports the short-term portion of the plan and 1.21% supports the long-term portion.
short-term Benefits upto 120 days. 沒搞清拿多少錢.
Long-term Benefits
19.1 Subject to regulation 7.7, the benefit shall be 65% of the first $40,000 of gross annual
salary, 50% of the next $40,000 of gross annual salary, and 40% of the balance.
(a) Subject to Regulation 7.7, for new long-term claims effective from
July 1, 2013, the benefit shall be 65% of the first $40,000 of gross annual
salary, 50% of the next $40,000 of gross annual salary, and 40% of the
balance
Due to the funded position of the plan, the Joint Trust Agreement governing our pension requires a 2.6% increase in the contribution rate to be shared equally between plan members and the employer. These rate increases will come into effect as of July 1, 2013.
You are automatically enrolled in the plan if you are a teacher or administrator working for an employer covered by the Teachers' Pension Plan.
How much does it cost me? How much does it cost my employer?
To fund the plan, both you as a plan member and your employer make regular contributions based on earned salary. As a member of the Teachers' Pension Plan, you contribute both to this plan and to the Canada Pension Plan (CPP) through automatic deductions from your salary. How much these contributions are depends on the year's maximum pensionable earnings (YMPE), a salary limit set each year by the federal government.
Employee contribution rates are currently set at:
12.50 per cent of your salary up to and including the YMPE
14.00 per cent of your salary above the YMPE
Employer contribution rates are currently set at:
14.63 per cent of your salary up to and including the YMPE
16.13 per cent of your salary above the YMPE
These rates include the employee contribution of three per cent of your pensionable earnings and the employer contribution of 1.13 per cent of your pensionable earnings that help fund health benefit payments for pensioners, and that go to the Inflation Adjustment Account (IAA).The IAA is used to offset the effects of inflation.
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