News

2021 COLA for UAPP Pensioners is 0.78%

The 2021 cost-of-living adjustment (COLA) for pensioners who retired prior to January 1, 2020 is 0.78%. For persons who retired in 2020, the COLA increase is prorated based on the number of complete months the person was on pension in the year.  The increase is applied to the base pension, including any bridge benefit that is being paid.  COLA is not applied to any coordination amounts.  The COLA increase will be included with the January 2021 payment.

The COLA is set at 60% of the increase in the Consumer Price Index (CPI) (Alberta) as reported by Statistics Canada.  The CPI increase for the relevant period was 1.3%.  The percentage increase in CPI is derived by comparing the average CPI for the 12 months ending in October 2020 with the corresponding figure for the previous year.

Tax withholdings starting in January will reflect the 2021 rates applicable to the province or country of the recipient’s residence.  CIBC Mellon will be issuing 2020 T4A slips in mid-February 2021.

CIBC Mellon can be contacted in North America at 1.800.565.0479 and those outside North America can call collect at 1.519.873.2218.  CIBC Mellon can be contacted in writing at CIBC Mellon Pension Benefits Department, PO Box 5858, Station B, London, ON N6A 6H2.

The CIBC Mellon website www.CIBCMellon.com is also available to assist pensioners with current information, frequently asked questions, as well as the "Retiree Assistance" page to submit address changes, banking changes, specific questions, etc.

 

Year’s Maximum Pensionable Earnings under CPP for 2021 increases to $61,600 from $58,700 in 2020

The Canada Revenue Agency has announced that the Year’s Maximum Pensionable Earnings under the Canada Pension Plan (CPP) for 2021 will be $61,600 – up 4.9% from $58,700 in 2020.  The new ceiling was calculated according to a CPP-legislated formula that takes into account the growth in average weekly wages and salaries in Canada.

The employee and employer contribution rates for 2021 will be 5.45%, up from 5.25% each in 2020.  The increase is due to the CPP enhancement that started taking effect January 1, 2019.

The maximum employer and employee contribution to the CPP for 2021 will be $3,166.45 each, up from $2,898.00 in 2020.  The basic exemption amount will remain at $3,500.00.

 

Maximum Pensionable Salary under the UAPP for 2021 increases to $180,757.78

The increase in the YMPE to $61,600 combined with the announced maximum pension benefit of $3,245.56 in 2021 for each year of service under defined benefit pension plans means that the maximum pensionable salary (sometimes called the pensionable salary cap) under the UAPP will rise to $180,757.78 in 2021, up from $172,221.11 in 2020.

In 2021, the maximum pensionable salary under the UAPP is going up by 5.0%.

 

Older News

Nov 30, 2020

2021 COLA for UAPP Pensioners is 0.78%

The 2021 cost‐of‐living adjustment (COLA) for pensioners who retired prior to January 1, 2020 is 0.78%. For persons who retired in 2020, the COLA increase is prorated based on the number of complete months the person was on pension in the year. The increase is applied to the base pension, including any bridge benefit that is being paid. COLA is not applied to any coordination amounts. The COLA increase will be included with the January 2021 payment.

The COLA is set at 60% of the increase in the Consumer Price Index (CPI) (Alberta) as reported by Statistics Canada. The CPI increase for the relevant period was 1.3%. The percentage increase in CPI is derived by comparing the average CPI for the 12 months ending in October 2020 with the corresponding figure for the previous year.

Tax withholdings starting in January will reflect the 2021 rates applicable to the province or country of the recipient’s residence. CIBC Mellon will be issuing 2020 T4A slips in mid‐February 2021.

CIBC Mellon can be contacted in North America at 1.800.565.0479 and those residing outside North America can call collect at 1.519.873.2218 or writing CIBC Mellon at CIBC Mellon Pension Benefits Department, PO Box 5858, Station B, London, ON N6A 6H2.

The CIBC Mellon website www.CIBCMellon.com is also available to assist pensioners with current information, frequently asked questions, as well as the "Retiree Assistance" page to submit address changes, banking changes, specific questions, etc.

Year’s Maximum Pensionable Earnings under CPP for 2021 increases to $61,600 from $58,700 in 2020

The Canada Revenue Agency has announced that the Year’s Maximum Pensionable Earnings (YMPE) under the Canada Pension Plan (CPP) for 2020 will be $61,600 – up 4.9% from $58,700 in 2020. The new ceiling was calculated according to a CPP‐legislated formula that takes into account the growth in average weekly wages and salaries in Canada.

The employee and employer contribution rates for 2021 will be 5.45%, up from 5.25% each in 2020. The increase is due to the CPP enhancement that started taking effect January 1, 2019.

The maximum employer and employee contribution to the CPP for 2021 will be $3,166.45 each, up from $2,898.00 in 2020. The basic exemption amount will remain at $3,500.00.

Maximum Pensionable Salary under the UAPP for 2021 increases to $180,757.78 for service after 1993.

The increase in the YMPE to $61,600 combined with the announced maximum pension benefit of $3,245.56 in 2021 for each year of service under defined benefit pension plans means that the maximum pensionable salary (sometimes called the pensionable salary cap) under the UAPP will rise to $180,757.78 in 2021, up from $172,221.11 in 2020.

In 2021, the maximum pensionable salary under the UAPP is going up by 5.0%.

Oct 1, 2020

Commuted Value Basis Change

The basis for the calculation of a Commuted Value (CV) has been changed effective December 1, 2020.  The Canadian Institute of Actuaries has issued updated standards to better reflect experiences of pension plans from across Canada.  The new standard updates the assumptions used for the expected retirement age and the discount rate.  The changes will affect CVs for termination and death benefit calculations.

Members will be assumed to commence their pension with 50% probability at the age which maximizes the CV and 50% probability at the age at which the member is eligible for an unreduced pension.  The liquidity spread used to calculate discount rates will be changing to a mix of the provincial bond spread and the corporate bond spread for medium- and long-term bonds.  Additional information will also be disclosed to members in the options packages.

Mar 19, 2020

UAPP Operations During COVID-19 Outbreak

The Universities Academic Pension Plan takes very seriously the COVID-19 outbreak and all related advisories of the Chief Medical Officer of Alberta. As such, the Trustees’ Office has implemented measures to do our part to help control the spread of the disease. Staff are now working remotely and the office is closed to visitors until further notice. The UAPP Administration Centre remains operational and the plan will continue to make pension payments on time. The goal remains to provide high quality service to members and employers.

UAPP pensions remain secure and safe despite volatile market conditions related to the outbreak. Pensioners receiving pensions via cheque who may be concerned about delivery disruptions may want to consider switching to direct deposit by contacting CIBC Mellon directly at https://www.cibcmellon.com/en/retiree-assistance/index.jsp#ir/direct-deposit.

Nov 29, 2019

2020 COLA for UAPP Pensioners is 1.02%

The 2020 cost‐of‐living adjustment (COLA) for pensioners who retired prior to January 1, 2019 is 1.02%. For persons who retired in 2019, the COLA increase is prorated based on the number of complete months the person was on pension in the year. The increase is applied to the base pension, including any bridge benefit that is being paid. COLA is not applied to any coordination amounts. The COLA increase will be included with the January 2020 payment.

The COLA is set at 60% of the increase in the Consumer Price Index (CPI) (Alberta) as reported by Statistics Canada. The CPI increase for the relevant period was 1.7%. The percentage increase in CPI is derived by comparing the average CPI for the 12 months ending in October 2019 with the corresponding figure for the previous year.

Tax withholdings starting in January will reflect the 2020 rates applicable to the province or country of the recipient’s residence. CIBC Mellon will be issuing 2019 T4A slips in mid‐February 2020.

CIBC Mellon can be contacted in North America at 1.800.565.0479 and those residing outside North America can call collect at 1.519.873.2218 or writing CIBC Mellon at CIBC Mellon Pension Benefits Department, PO Box 5858, Station B, London, ON N6A 6H2.

The CIBC Mellon website www.CIBCMellon.com is also available to assist pensioners with current information, frequently asked questions, as well as the "Retiree Assistance" page to submit address changes, banking changes, specific questions, etc.

Nov 4, 2019

Year’s Maximum Pensionable Earnings under CPP for 2020 increases to $58,700 from $57,400 in 2019

The Canada Revenue Agency has announced that the Year’s Maximum Pensionable Earnings (YMPE) under the Canada Pension Plan (CPP) for 2020 will be $58,700 – up 2.3% from $57,400 in 2019. The new ceiling was calculated according to a CPP‐legislated formula that takes into account the growth in average weekly wages and salaries in Canada.

The employee and employer contribution rates for 2020 will be 5.25%, up from 5.1% each in 2019. The increase is due to the CPP enhancement that started taking effect January 1, 2019.

The maximum employer and employee contribution to the CPP for 2020 will be $2,898.00 each, up from $2,748.90 in 2019. The basic exemption amount will remain at $3,500.00.

Maximum Pensionable Salary under the UAPP for 2020 increases to $172,221.11 for service after 1993.

The increase in the YMPE to $58,700 combined with the announced maximum pension benefit of $3,092.22 in 2020 for each year of service under defined benefit pension plans means that the maximum pensionable salary (sometimes called the pensionable salary cap) under the UAPP will rise to $172,221.11 in 2020, up from $168,497.78 in 2019.

In 2020, the maximum pensionable salary under the UAPP is going up by 2.2%.

Nov 26, 2018

2019 COLA for UAPP Pensioners is 1.50%

The 2019 cost‐of‐living adjustment (COLA) for pensioners who retired prior to January 1, 2018 is 1.50%. For persons who retired in 2018, the COLA increase is prorated based on the number of complete months the person was on pension in the year. The increase is applied to the base pension, including any bridge benefit that is being paid. COLA is not applied to any coordination amounts. The COLA increase will be included with the January 2019 payment.

The COLA is set at 60% of the increase in the Consumer Price Index (CPI) (Alberta) as reported by Statistics Canada. The CPI increase for the relevant period was 2.5%. The percentage increase in CPI is derived by comparing the average CPI for the 12 months ending in October 2018 with the corresponding figure for the previous year.

Tax withholdings starting in January will reflect the 2019 rates applicable to the province or country of the recipient’s residence. CIBC Mellon will be issuing 2018 T4A slips in mid‐February 2019.

CIBC Mellon can be contacted at 1.800.565.0479. Pensioners residing outside North America can contact CIBC Mellon by calling 1.519.873.2218 or writing CIBC Mellon at CIBC Mellon Pension Benefits Department, PO Box 5858, Station B, London, ON N6A 6H2.

The CIBC Mellon website www.CIBCMellon.com is also available to assist pensioners with current information, frequently asked questions, as well as the "Retiree Assistance" tool to submit address changes, specific questions, etc.

Nov 2, 2018

Year’s Maximum Pensionable Earnings under CPP for 2019 increases to $57,400 from $55,900 in 2018

The Canada Revenue Agency has announced that the Year’s Maximum Pensionable Earnings (YMPE) under the Canada Pension Plan (CPP) for 2019 will be $57,400 – up 2.7% from $55,900 in 2018. The new ceiling was calculated according to a CPP‐legislated formula that takes into account the growth in average weekly wages and salaries in Canada.

The employee and employer contribution rates for 2019 will be 5.1%, up from 4.95% each in 2018. The increase is due to the CPP enhancement taking effect January 1, 2019.

The maximum employer and employee contribution to the CPP for 2019 will be $2,748.90 each, up from $2,593.80 in 2018. The basic exemption amount will remain at $3,500.00.

Maximum Pensionable Salary under the UAPP for 2019 increases to $168,497.78 for service after 1993.

The increase in the YMPE to $57,400 combined with the announced maximum pension benefit of $3,025.56 in 2019 for each year of service under defined benefit pension plans means that the maximum pensionable salary (sometimes called the pensionable salary cap) under the UAPP will rise to $168,497.78 in 2019 from $163,992.22 in 2018.

The maximum pensionable salary under the UAPP has increased for 2019 by 2.7%.

Aug 16, 2018

Administration Services Provided from UAPP Administration Centre

The third-party administration services provider for the UAPP has been rebranded from Conduent Human Resource Services to Buck. Effective immediately, the team providing services to the plan will be known as the UAPP Administration Centre.

Dec 4, 2017

2018 COLA for UAPP Pensioners is 0.78%

The 2018 cost‐of‐living adjustment (COLA) for pensioners who retired prior to January 1, 2017 is 0.78%. For persons who retired in 2017, the COLA increase is prorated based on the number of complete months the person was on pension in the year. The increase is applied to the base pension, including any bridge benefit that is being paid. COLA is not applied to any coordination amounts. The COLA increase will be included with the January 2018 payment.

The COLA is set at 60% of the increase in the Consumer Price Index (CPI) (Alberta) as reported by Statistics Canada. The CPI increase for the relevant period was 1.3%. The percentage increase in CPI is derived by comparing the average CPI for the 12 months ending in October 2017 with the corresponding figure for the previous year.

Tax withholdings starting in January will reflect the 2018 rates applicable to the province or country of the recipient’s residence. CIBC Mellon will be issuing 2017 T4A slips in mid‐February 2018.

CIBC Mellon can be contacted at 1.800.565.0479. Pensioners residing outside North America can contact CIBC Mellon by calling 1.519.873.2218 or writing CIBC Mellon at CIBC Mellon Pension Benefits Department, PO Box 5858, Station B, London, ON N6A 6H2.

The CIBC Mellon website www.CIBCMellon.com is also available to assist pensioners with current information, frequently asked questions, as well as the "Retiree Assistance" tool to submit address changes, specific questions, etc.

Year’s Maximum Pensionable Earnings under CPP for 2018 increases to $55,900 from $55,300 in 2017

The Canada Revenue Agency has announced that the Year’s Maximum Pensionable Earnings (YMPE) under the Canada Pension Plan (CPP) for 2018 will be $55,900 – up 1.1% from $55,300 in 2017. The new ceiling was calculated according to a CPP‐legislated formula that takes into account the growth in average weekly wages and salaries in Canada.

The employee and employer contribution rates for 2018 will remain unchanged at 4.95% each.

The maximum employer and employee contribution to the CPP for 2018 will be $2,593.80 each, up from $2,564.10 in 2017. The basic exemption amount will remain at $3,500.00.

Maximum Pensionable Salary under the UAPP for 2018 increases to $163,992.22 for service after 1993.

The increase in the YMPE to $55,900 combined with the announced maximum pension benefit of $2,944.44 in 2018 for each year of service under defined benefit pension plans means that the maximum pensionable salary (sometimes called the pensionable salary cap) under the UAPP will rise to $163,992.22 in 2018 from $162,312.22 in 2017.

The maximum pensionable salary under the UAPP has increased for 2018 by 1.0%.

Sep 19, 2017

Retirement Planner Upgrades

The Retirement Planner will be upgraded to improve service to plan members with changes expected to be introduced by the end of September 2017. The changes include an improved look, added communication tools, and member self-registration to allow you to reset your own password. You will still be able to prepare retirement estimates that use your actual data and you will continue to have access to your annual member statement. For assistance, please call Conduent Human Resource Services at 1.866.709.2092 between 6 a.m. and 6 p.m. Alberta time during business days.

Jan 1, 2017

Buck Consultants Rebranded as Conduent

Effective January 1, 2017, Buck Consultants, the administration services provider for the UAPP, has been rebranded as Conduent Human Resource Services.

Dec 14, 2016

2017 COLA for UAPP Pensioners is 0.78%

The 2017 cost‐of‐living adjustment (COLA) for pensioners who retired prior to January 1, 2016 is 0.78%. For persons who retired in 2016, the COLA increase is prorated based on the number of complete months the person was on pension in the year. The increase is applied to the base pension, including any bridge benefit that is being paid. COLA is not applied to any coordination amounts. The COLA increase will be included with the January 2017 payment.

The COLA is set at 60% of the increase in the Consumer Price Index (CPI) (Alberta) as reported by Statistics Canada. The CPI increase for the relevant period was 1.3%. The percentage increase in CPI is derived by comparing the average CPI for the 12 months ending in October 2016 with the corresponding figure for the previous year.

Tax withholdings starting in January will reflect the 2017 rates applicable to the province or country of the recipient’s residence. CIBC Mellon will be issuing 2016 T4A slips in mid‐February 2017.

CIBC Mellon can be contacted at 1.800.565.0479 (English) or 1.800.268.1629 (French). Pensioners residing in the US can contact CIBC Mellon by calling 1.800.263.4497 or writing CIBC Mellon at CIBC Mellon Pension Benefits Department, PO Box 5858, Station B, London, ON N6A 6H2.

The CIBC Mellon website www.CIBCMellon.com is also available to assist pensioners with current information, frequently asked questions, as well as the "Retiree Assistance Online Inquiry" to submit address changes, specific questions, etc.

Nov 7, 2016

Year’s Maximum Pensionable Earnings under CPP for 2017 increases to $55,300 from $54,900 in 2016

The Canada Revenue Agency has announced that the Year’s Maximum Pensionable Earnings (YMPE) under the Canada Pension Plan (CPP) for 2017 will be $55,300 – up 0.7% from $54,900 in 2015. The new ceiling was calculated according to a CPP‐legislated formula that takes into account the growth in average weekly wages and salaries in Canada.

The employee and employer contribution rates for 2017 will remain unchanged at 4.95% each.

The maximum employer and employee contribution to the CPP for 2017 will be $2,564.10 each, up from $2,544.30 in 2016. The basic exemption amount will remain at $3,500.00.

Maximum Pensionable Salary under the UAPP for 2017 increases to $162,312.22 for service after 1993.

The increase in the YMPE to $55,300 combined with the announced maximum pension benefit of $2,914.44 in 2017 for each year of service under defined benefit pension plans means that the maximum pensionable salary (sometimes called the pensionable salary cap) under the UAPP will rise to $162,312.22 in 2017 from $160,970.00 in 2016.

The maximum pensionable salary under the UAPP has increased for 2017 by 0.8%.

June 24, 2016

Potential Canada Post Service Disruption

The UAPP Trustees’ Office is aware of a potential disruption to Canada Post services. Lump sum payments to terminated members and monthly payments to retired members could be affected. We have been advised that CIBC Mellon, the plan’s pensioner payroll services provider, has included a message on all cheques and direct deposit confirmations to alert retired members of the possible disruption and to encourage those receiving cheques by mail to sign up for direct deposit.

Pensioners can complete a direct deposit form and fax it to 1.800.678.0760 to ensure that future payments will be deposited directly to their account.

In accordance with CIBC Mellon’s standard procedures, all lump sum payment cheques with a net value exceeding $250,000 will be sent by courier. Direct transfers (such as RRSP transfers) to CIBC, Bank of Montreal, ScotiaBank, and TD Canada Trust will proceed during the disruption as CIBC Mellon has made arrangements with these financial institutions locally to distribute cheques through their interoffice systems.

The UAPP Trustees’ Office will continue to monitor the Canada Post labour situation and will work with CIBC Mellon to assist any plan member negatively impacted in the event of a disruption in postal services.