See “Recent Posts” (left column) for 2016 Member Update and History of Pension Increases of the TWPP.
March 19, 2018 Important Letter to Unit R55 Members
An increase for retirees, effective April 1, 2018, was announced on the TWU, USW Local 1944 November 7, 2017 Hotline to the members.
This is the pertinent information from the Hotline.
The Board of Trustees of the Telecommunication Workers Pension Plan (TWPP) approved a 3.50% pension increase for all members who retired prior to January 1, 2010.
For members who retired between January 1, 2010 and December 31, 2016 the 3.5% increase will be prorated based on the number of months from your retirement date to December 31, 2016. The pension increase will be effective April 1, 2018.
The Board of Trustees annually review the financial health of the Plan to determine whether an increase in retiree Pensions can be approved while preserving the Plan’s ability to offer its target benefits to future retirees.
This pension increase has been approved based on the benefit improvement guidelines for providing Ad Hoc Increases to pensions in payment as documented in the current Funding Policy, which you can find on the Plan’s website www.twplans.com.
Members receiving a pension increase will receive a Notice of the Change in your Net Pay effective April 1, 2018.
Should you have any questions concerning the amount of your increase the Pension Office asks that you refrain from contacting the Administration office until after you have received your April 1st payment.
BCARTW Dues Reminder
This is a friendly reminder that your membership dues in the BCARTW for are now due. The BCARTW membership year is from May 1 to April 30. Dues are still only $10.00 per year and you may pay dues for future years (e.g. $20.00 for 2 years). See the ABOUT tab above and select DUES for mailing details.
The BCARTW hopes you will continue to support the society as it continues to address issues and press for change on matters that our members tell us are of major concern to them; issues such as lobbying the TWPP Trustees for increases in our pension benefits and improved medical and dental benefits.
TWU, USW Local 1944 Unit R55, the retiree local in BC, is able to send delegates to TWU conventions where they can debate issues and vote on matters affecting retirees. However, the TWU does not fund the Local in any way. Unit R55 receives all of its funding from the BCARTW. Members such as you make it possible for Unit R55 to continue working for the interests of retirees.
If you currently pay your annual dues by cheque, we encourage you to consider paying your dues through your credit union or the Bank of Montreal. Enclosed is a copy of our dues payment options. For more information, you can visit our webpage at http://www.bcartw.ca/forms/, or call toll-free 1-888-898-5755.
We thank you for your past support, and hope to hear from you soon so we can all work together on the causes that are important to our members.