Guide for plan members
WorkSafeBC Pension Plan is committed to helping you make the most of your pension. This guide is a provincial requirement. Please use the links at right to explore the topics most relevant to you.
Transferring service between public sector plans
The WorkSafeBC Pension Plan has transfer agreements with many public sector pension plans in Canada under the National Public Service Transfer Agreement (NTA). The NTA allows pension plan members to transfer their service from one plan to another.
This means that if you leave your job at WorkSafeBC and begin working for another employer that is also an NTA member, you may be able to transfer your eligible service from WorkSafeBC to the new plan.
Similarly, if you were working for an employer that is an NTA member and you begin working for WorkSafeBC, you may be able to transfer your eligible service from your previous plan to the WorkSafeBC Pension Plan.
It can be to your advantage to transfer your service to your new employer's pension plan, as you may be able to:
- Increase your pensionable service and in turn increase your pension
- Increase your contributory service , which may allow you to qualify for an unreduced pension earlier
However, it's not always to your financial advantage to transfer service. You may want to collect two separate pensions if either:
- The total of the two separate pensions is more than a single pension after a transfer
- You can collect a pension earlier under your former plan
It is a good idea to talk with an independent financial adviser to learn about your options before transferring service.
Disability and your pension
If you become disabled and are unable to work due to illness or injury, you may be eligible to receive benefits from WorkSafeBC’s LTD plan. These benefits generally pay you a monthly income based on a percentage of your regular salary while you are unable to work.
For information about how to apply for an LTD leave, contact WorkSafeBC People Services.
While you are receiving benefits from WorkSafeBC’s LTD plan, you will continue to accumulate contributory and pensionable service as if you were still working. You are not required to pay your monthly pension contributions to the plan.
You may also be eligible to receive a disability benefit from the Canada Pension Plan.
For information about the Canada Pension Plan disability benefit, call 1-800-277-9914 or visit the Canada Pension Plan disability benefit website.
Looking for more detail? These links will help you