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Public Service Pension Plan Survey

11/09/2020

  Attention all Members

To all retired members and members planning to retire in the next five (5) years. An important survey is available on the Public Service Pension Plan (PSPP) Website (pspp.pensionsbc.ca)

There are some significant changes being proposed by the Trustees to the PSPP, regarding changes to the Retired Members Extended Health Plan. More specifically, changes to the coverage of the Drug Plan, that will significantly impact retired and soon to retire member's cost for drugs. Due to the increased cost of Drug coverage and the concern for the sustainability of the future of the Drug Plan, the Trustees are seeking input from members, through a survey that is available on the PSPP website (pspp.pensionsbc.ca)

All retired members and those planning retirement within the next five (5) years, should visit the website, watch the educational video  and complete the survey by DEC 4th 2020. This survey was posted on their website on Nov 2nd, 2020.

There will be three (3) options proposed for addressing the increase in costs of the existing Drug Plan (GSC, service provider) that members are asked to choose from. The options generally suggest a higher Co-Pay model for High Drug Costs (and perhaps all drugs) with a possible "Grandfathering" for existing retired members from one (1) to five (5) years, depending to the option that the Trustee implement.

We strongly encourage all retired members and those planning retirement in the next five (5) years to visit the website, watch the education video and complete the survey

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