McMaster University Hourly Pension Plan (the “Plan”)
We are pleased to announce that pensions in pay as of January 1, 2020 will be increased in respect of any retiree who was receiving a pension on June 30, 2019.
Annual Pension Increase (0.33%)
The “Annual Pension Increase” for January 1, 2020, calculated in accordance with the Plan text and reviewed by our external auditors, resulted in an increase of 0.33% to pensions paid from the Plan. This impacts any member who will receive a pension from the Plan on January 1, 2020, and who was also in receipt of a pension on June 30, 2019. Those retirees who retired between July 1, 2018 and June 30, 2019, will receive a pro-rated increase.
The information provided on this website is intended to summarize in plain language, the McMaster University Contributory Pension Plans and their respective audited financial statements. For an exact and complete description of the Plan and the financial statements, consult the Plan Text and audited financial statements. In cases where the information provided on this website differs from that contained in the Plan text and audited financial statements, the Plan text and audited financial statements will govern.