The bargaining team has been working hard over the past year to ensure that the bargaining package reflects the needs and priorities of CUPE 3799 members.
The team’s goal has been to achieve meaningful improvements to our collective agreement while also securing a defined benefit pension plan for members, which the membership identified as a priority.
Currently, UNBC is the only public university in B.C. where operational staff are on a defined contribution plan. An external review conducted by a joint UNBC committee identified a defined benefit pension plan as the preferred option for the university, including for members of CUPE 3799.
A defined benefit pension plan provides a predictable retirement income based on a defined formula. This can make it easier to understand and plan for your retirement income.
Under the Municipal Pension Plan (MPP):
- Pension benefits are professionally administered.
- The plan provides a defined retirement benefit.
- Pension benefits may be adjusted through inflation protection provisions, subject to the plan’s rules.
- Members may have access to post-retirement benefits at a reduced cost, subject to eligibility and plan provisions.
- The pension plan assumes responsibility for managing the investment risk rather than placing that responsibility entirely on individual members.
Moving to a defined benefit pension plan will increase member contributions. Currently, CUPE 3799 members contribute three per cent of pensionable earnings up to the Year’s Maximum Pensionable Earnings and five per cent on all additional pensionable earnings. Under the MPP, members will contribute 8.61 per cent on all pensionable earnings.
These contributions are an investment in your future retirement income.
The MPP is also portable, meaning your pension can generally remain with the plan if you move to another participating MPP employer in BC, subject to the plan’s rules.
Thank you for your continued support and solidarity as we work toward negotiating the collective agreement CUPE members deserve!