Cost of Living Adjustment (COLA) 2010
Provincial & Family Court Judges Supplementary Pension Plan
November 30, 2009
TO: Pensioners and Beneficiaries of the Provincial & Family Court Judges Supplementary Pension Plan
Dear Pensioner or Beneficiary,
RE: 2010 Cost of Living Adjustment (Indexing)
As you are probably aware, the Public Service Superannuation Plan has provisions regarding the indexing of pensions. In accordance with the Regulations made under the Act, there will be no indexing for 2010. The following is further explanation.
According to the Cost of Living Regulations made under Section 20 of the Public Service Superannuation Act, indexing is based on increases in the Consumer Price Index (CPI). It is calculated as the increase in the Pension Index
1 for the year, over the Pension Index
1 for the previous year, to a maximum of 6%.
When the increase in the Pension Index
1 is less than 1%, under the terms of the plan no indexing can be credited. The increase in the Pension Index
1 from 2009 to 2010 is 0.4%; therefore, there will be no indexing adjustment in 2010.
If you have any questions, please contact our office at 1-800-774-5070 (toll free in NS) or 424-5070.
Sincerely,
Original signed by Kim BlinnKim Blinn, Director
1The Pension Index for a year is calculated as the average of the CPI for Canada (All-items), as published by Statistics Canada, for each month in the 12-month period ending October 31 of the preceding year.
Strength Today. Growth for Tomorrow.