SHEPP’s most recent valuation confirmed the Plan is fully funded with a surplus resulting from strong investment returns. The Board of Trustees has decided to use this surplus to fund past benefit improvements for eligible active, deferred and retired members.
Highlights
The benefit improvements boost pensions by:
Increasing the basic lifetime pension formula to 1.60% from 1.40% for credited service between January 1, 2001 and December 31, 2024;
- This results in a higher basic lifetime pension for eligible active, deferred and retired members at no additional cost to them.
Providing a one-time, ad-hoc cost-of-living adjustment (COLA) up to 1.89% (80% of CPI) to pensioners with little to no service between 2001-2024;
- This ensures pensioners receive a lifetime pension increase of at least 1.89%.
Indexing the deemed earnings used to calculate pension benefits for members who had a period of approved disability leave.
Key Resources
Active Members
Deferred Members
Pensioned Members
Members on Approved Disability
More Information
If you have questions about how these changes affect you, please review your 2025 Annual Pension Statement to understand the impact of this recent benefit improvement on your pension.
Active members can log in to SHEPPweb and use the updated pension projection calculator to see how this change affects their future pension.
Questions?
If you have any questions, please feel free to contact us by email at sheppifo@shepp.ca or call 1.866.394.4440.