News Story

In uncertain times, you can be certain of this:

December 20, 2022

TTC Pension Plan will always be there for you

In Canada, there is growing awareness around the importance of workplace pensions, but many Canadians still do not have access to one. At TTC Pension Plan (TTCPP), we are proud to offer members a plan with stable contribution rates—one that provides a secure retirement income that is guaranteed for life.

TTCPP is a defined benefit pension, which means the amount you’ll receive at retirement is guaranteed for life and based on a formula that factors in your contributory service.

Each year, the Board decides whether to provide a cost-of-living adjustment (COLA) after a careful review of the Plan’s performance and actuarial reports; all COLAs require approval by the Board, TTC, and members.

A full COLA is based on the average monthly CPI published by Statistics Canada for the previous two years. The method we use to calculate COLA is consistent with the method used by the Canada Pension Plan.

For 2022, the full COLA was approved, and we’re proud to have provided full COLA increases every year since 2011.

However, each year the Board reviews the affordability of Plan enhancements and the long-term health of the Plan, and it is important to note that there is no guarantee of receiving a full or partial COLA increase in any given year.

Any COLA in 2023 is conditional upon full review of 2022’s year-end figures and approval by all parties. COLA-related announcements will be made here at as part of the Annual General Meeting communications.

Share your feedback



    Your response is valuable to us and will help us to make continuous improvements to our website. Please note that we are unable to respond to the feedback provided here.