Your 2021 Inflation Adjustment
The annual cost-of-living adjustment for 2021 is 1%. The adjustment takes effect in January 2021.
The adjustment is based on 100% of the adjustment in the Consumer Price Index (CPI), a weighted basket of goods and services typically purchased by Canadian households each month.
The method used to calculate the adjustment is prescribed by the terms of the plan and is the same method used by most other major Ontario pension plans, as well as the Canada Pension Plan.
What this means to you
- In January 2021, you’ll receive a pension increase equal to 100% of the annual CPI increase.
- If you retire(d) in 2020, your first pension increase will be prorated from your last day of credit in 2020.