Greetings,
Colleagues in Retirement:
Please see below for information from Kay re: our pensions and benefits.
Thanks to all who have recently updated their e-mail contact information
with me; it is a big help for keeping our file current.
LOST in the Chalk Dust: If you are in contact
with newly retired Irene Ball, please ask her to contact Val Dyer at tvdyer@shaw.ca . We do not have her current
contact information, on file, and, as a result, cannot keep her advised of PQRTA
event information.
Sincerely,
VAlerie Dyer
PQRTA Communications Chairperson (2013-14)
Pensions and Benefits
At the recent BCRTA AGM, Director Gerry Tiede gave us a full update on the
state of our pension. As you know the bleak investment returns in 2008 had
a negative impact on our plan as investments pay 80% of our pensions. This
left us paying for our own dental and extended health premiums. The good
news is that our investment income has rebounded nicely and our indexed raise is
likely to be fully funded for the next few years at least. The September
CPI governs our increase, which is not likely to be much this year as gas prices
went down. It must be pointed out though that our pension fund poured about $1
billion into the BC economy this year. So do not believe what you read about
public pensions costing the taxpayers huge sums of money!
Gerry also brought us up to date on a new service provided by the Pension
Corporation. You can open up a “My Account” by accessing
www.tpp.pensions.bc.ca.
You need to register by using your personal ID number found on the top
right hand corner of your pension statement. Then you can access all your
information since January 2013. This will be helpful at tax time;
eventually you should even be able to print off your own T4s.
Health Benefits
Gerry also reminded us of the online services offered by Blue Cross – our
Extended Health and Dental Care Plans provider. You need your plan number
to register for CARESNET at www.pac.bluecross.ca/corp/member. “Benefits and
Elegibility” will tell you what our plan covers. You can review your
own “Claims History”, including what you paid and what the plan
reimbursed. You can set up a “Direct Deposit” so your pharmacist can bill
the plan directly. Again this information will be useful at tax time when you
should claim as many medical expenses as you can (More to come on this in
the new year).
Another website can help you find the cheapest drugs and dispensing fees in
your area. Our plan only pays $10.00 maximum dispensing fee. The
site is www.pharmacycompass.ca . If you feed in the name of the drug, the
size of the dosage and your location, the site will tell you which pharmacies
near you charge what for the same service. This is important because we
need to keep the cost of our plans as low as possible. However, it is also
important to have a pharmacist you know and trust and who is aware of your
medical history.
E-mail if you have any questions.
Kay
khoward@shaw.ca;
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