2018 Cost-of-Living Adjustment Increase
December 20, 2017
Effective January 2018, SFPP pensioners will receive a Cost-of-Living Adjustment (COLA).
The Special Forces Pension Board has determined that COLA can be granted for 2018 at the target level. This means that pensioners with service earned after 2000 will see that portion of their pension increase by 30% of the annual increase in the Alberta Consumer Price Index (ACPI). The change works out to a 0.39% increase for pensions in pay and deferred pensions for service after December 31, 2000.
SFPP pensioners with pre-2001 service continue to receive COLA at 60% of ACPI for that service. This works out to a 0.78% increase in pension payments. The adjustment will be automatically applied to your pension.
Members who retired during 2017 (between January 1, 2017 and November 30, 2017) will receive a prorated portion of this increase. Those who retired in, or prior to, 2016 will receive a full COLA.
Your T4A statement will be mailed out in February 2018. It will also be available on mypensionplan.ca.