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Pension Increases for 2020

December 13, 2019 12:16 PM | Anonymous

Greetings fellow McMaster Retirees,
We are pleased to inform you that the Board of Governors has approved the following increases to pensions effective January 2020:

For retirees of the Salaried Pension Plan, there will be a regular pension increase as outlined below:

  • 2.06% for employees who were hired on or after May 1, 2010 and who retired from the University as a Unifor Local 5555 Unit 1 Member
  • 2.12% for all other retirees

Members must have been receiving a pension on June 30, 2018 to receive the full pension increase. Those who retired between July 1, 2018 and June 30, 2019 will receive a pro-rated increase. There will be no supplementary increase this year. Details can be found at: https://hr.mcmaster.ca/pensioner-increase-calculation-salaried-pension-plans/.

For retirees of the Hourly Pension Plan, there will be a regular pension increase of 0.33% for retirees who were receiving a pension on June 30, 2018. Those who retired between July 1, 2018 and June 30, 2019 will receive a pro-rated increase. Details can be found at: https://hr.mcmaster.ca/pensioner-increase-hourly-pension-plan/.

-- your MURA Council

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