The BC Teachers’ Pension Plan (TPP) has announced the cost of living adjustment (COLA) of BC retired teacher pensions for 2025. In December of each year, the TPP Board of Trustees takes note of the benchmark rate of inflation, which is defined as the Canadian Consumer Price Index (CPI) as measured for the 12 months to the end of September 30th annually. With a healthy Inflation Adjustment Account (IAA), the TPP was once again able to cover the entire inflation amount.
As of September 30, 2024, the CPI was 1.6%, and the Trustees have decided to match that benchmark. Accordingly, the inflation adjustment of 1.6% will take effect for all TPP pensions as of January 1, 2025.
BC retirees enjoy the most secure pension plan of Canadian educators, and have been fully covered for inflation for the past 20 years. An essential part of the mission of BC Retired Teachers’ Association is to advocate for pension security and the fair treatment of retirees. We are pleased to see the full coverage of inflation continue for our members.
Read more about the increase at: https://tpp.pensionsbc.ca/cost-of-living-adjustments
Cost-of-living adjustment history
| Year | Increase (%) |
|---|---|
| 2025 | 1.6 |
| 2024 | 3.8 |
| 2023 | 6.9 |
| 2022 | 4.4 |
| 2021 | 0.5 |
| 2020 | 1.9 |
| 2019 | 2.2 |
| 2018 | 1.6 |
| 2017 | 1.3 |
| 2016 | 1.0 |
| 2015 | 2.0 |
| 2014 | 1.1 |
| 2013 | 1.2 |
| 2012 | 3.2 |
| 2011 | 1.0 |
| 2010 | 0.0 |
| 2009 | 3.4 |
| 2008 | 2.5 |
| 2007 | 0.7 |
| 2006 | 3.4 |
| 2005 | 1.8 |
| 2004 | 2.2 |
