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Notification of Pension Increases

December 15, 2021 12:57 PM | Anonymous
Greetings fellow MURA members:

The Board of Governors has approved the following increases to pensions effective January 2022.

For retirees of the Salaried Pension Plan:
  • a regular increase of 1.45% for all retirees  who retired prior to July 1, 2020. Those who retired between July 1, 2020 and June 30, 2021 will receive a pro-rated increase. Members who retired after June 30, 2021 will receive no increase in January 2022.
  • a supplementary increase of 0.177% only for those who retired from the University as a Unifor Local 5555, Unit 1 member on or before July 1, 2018, and who were hired on or after May 1, 2010. Those in this group who retired between August 1, 2018 and June 1, 2020 will receive a pro-rated increase. Those retiring after June 30, 2020 will not receive this increase.
  • Details can be found at: https://hr.mcmaster.ca/pensioner-increase-calculation-salaried-pension-plans

For retirees of the Hourly Pension Plan:
  • a regular increase of 1.45% for all retirees who retired prior to July 1, 2020. Those who retired between July 1, 2020 and June 30, 2021 will receive a pro-rated increase. Members who retired after June 30, 2021 will receive no increase in January 2022.
  • a supplementary increase of 0.345% for retirees in the Hourly Pension Plan who retired on or before April 1, 2020. Those who retired in May or June of 2020 will receive a pro-rated increase. Those retiring after June 30, 2020 will not receive this increase.
  • Details can be found at: https://hr.mcmaster.ca/pensioner-increase-hourly-pension-plan

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