Biography canadian forces pension indexing
Biography canadian forces pension indexing
Biography canadian forces pension indexing service...
Pension Indexation
NEW! January 1, 2025 As of 1 January 2025 the rate of indexation that applies to your pension benefit is 2%, based on the 2.71% percentage increase in the CPI (Consumer Price Index) from October 1, 2023 to September 30, 2024.
The full indexation will apply to those retired for the whole period of twelve months preceding, while new pensioners who started their pension during 2020 will receive a percentage increase proportional to the number of months they received benefits.
Pension Indexation Formula
Every January, if you are a member of the University of Ottawa Pension Plan, your pension will be automatically adjusted to reflect some or all of the increase in the Consumer Price Index (CPI), beginning in the year after your retirement.
The pension indexation formula is based on the increase in the CPI during the period of October 1 and September 30th of the previous year, up to a maximum increase of 8%.
- If the increase in the CPI is less than 2%, the adjus