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Notification of Pension Increases

December 28, 2020 12:57 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 2021:

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

  • 1.34% 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;
  • 1.46% for all other retirees

Members must have been receiving a pension on June 30, 2019 to receive the full pension increase. Those who retired between July 1, 2019 and June 30, 2020 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, unfortunately, there will be no increase.  Details can be found at: https://hr.mcmaster.ca/pensioner-increase-hourly-pension-plan/
 
-  your MURA Council

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