Cost of Living Adjustments

The HEPP Plan Text provides for the payment of Cost of Living Adjustments (COLAs) to retired Plan members on an ad hoc basis, provided there is a sufficient surplus available to fund the adjustment. This means that annual COLA increases are not guaranteed but may be paid when sufficient Plan funds are available. 

Each year, the Plan undertakes an actuarial valuation, which is conducted by an independent actuary. The purpose of the actuarial valuation is to determine the Plan’s funded position. If there is a sufficient surplus, as outlined in the Plan’s Surplus Policy, the surplus may be used to fund additional benefits such as a COLA increase.



image





See how your Pension Plan is changing to help ensure we can continue to honour the defined benefit commitment to all current and future retirees.

© 2017 HEB Manitoba

 

Disclaimer - This website provides a basic overview of the Healthcare Employees' Pension Plan (HEPP) and the Healthcare Employees' Benefits Plan (HEBP) (collectively the HEB Manitoba Pension and Benefit Plans). Not all employers participate in all Plans. Please check your eligibility for benefits with your employer.

HEB Manitoba is a name notation registered by the Healthcare Employees’ Pension Plan – Manitoba and the Healthcare Employees’ Benefits Plan – Manitoba and under which each of their respective undertakings is carried out.

The information on this website is for convenience of reference only and has no official sanction. View our full disclaimer here.