The accrual rate is the rate at which you earn your pension. In 2023, you will earn your pension at the rate of 1.85% of your pensionable earnings.
You earn a piece of pension every year that you work and contribute to the plan―like building blocks.
For example, let’s assume that a member’s pensionable earnings stayed constant at $60,000 every year (for easy figuring). From 2019 to 2024, that member would earn:
| Year | Accrual Rate | Formula | Pension Credit Earned |
| 2019 | 1.4% | 1.4% of $60,000 | $ 840 |
| 2020 | 1.85% | 1.85% of $60,000 | $ 1,110 |
| 2021 | 1.625% | 1.625% of $60,000 | $ 975 |
| 2022 | 1.85% | 1.85% of $60,000 | $ 1,110 |
| 2023 | 1.85% | 1.85% of $60,000 | $ 1,110 |
| 2024 | 1.4% | 1.4% of $60,000 | $ 840 |
At the end of your career, the annual pension amounts earned each year (pension credits) will add up to the total annual pension you will receive every year for the rest of your life. So, the higher amount earned in 2023 will continue to benefit you for the rest of your retired life.
There is no automatic indexing or increases in our pension plan. Each year, the Pension Board and Pension Plan Advisory Committee assess the resources available and determine whether there are surplus funds that can be used to increase benefits.
The Benefits Centre team is pleased to announce that we have made 17 lump sum payments and 4,768 regular pension payments following the transition from RBC Investor and Treasury Services to LifeWorks in May. All thanks to LifeWorks' Ariel payroll system that streamlined the payroll run and generated one payroll run instead of two for monthly pensions and lump sums. Check out more details below!
The first letter from the Benefits Centre informing pensioners about the change to the processing of pension payments - from RBC Investor and Treasury Services to LifeWorks.
The second mailing in June was divided into three letters depending on where you are currently residing:
The second communication from the Benefits Centre was mailed the week of June 15, with more information on T4As for the 2022 year, and about the Web portal - which will be available to all in October 2023 but will be optional. Just a reminder, there is nothing for you, as a pensioner, to do on your end.
Three versions of the letter were mailed - depending on your current location - and they are all posted on the Retirement page, under Communications. If you have not received this communication by the end of the month, please e-mail pension@united-church.ca or phone the Benefits Centre at 1-855-647-8222 to ensure they have the correct address on file.
First Mailing - First Letter
Second Mailing -
After a year-long hiatus, Connex is back! This version will pick up where the print version left off and will only be available online. Going forward, Connex will focus mainly on pension, benefits, and payroll news.
If you were previously receiving an email about Connex and didn’t see it in your inbox, check your spam folder! If it’s still not there and you would like to receive Connex, please sign up for the latest news and updates on the Newsroom page by filling out the form below.
Previous issues of Connex can be found on the United Church Commons, under Communications, Publications and Media.
The plan summary for the Health and Dental Benefits for Active Members, effective January 1, 2022, is now posted on the Group Benefits page, under Life, Health and Dental, Disability Benefits. Please note, this plan summary is subject to a final review by external consultants. If you have any questions, please email benefits@united-church.ca. The General Council Office will reopen on January 4, 2022.
