Pensioners benefit from an annual Cost-of-Living Adjustment (COLA)—a feature unique to defined benefit plans.
The Cost-Of-Living Adjustment for 2013 is 0.96 per cent. The adjustment will automatically be applied to your pension effective January 1, 2013. Members who retired during 2012 will receive a prorated portion of this increase.
The increase is applied to your base pension amount and excludes coordination. If you are currently being paid an estimate of your pension because calculations are not finalized, your amount will not yet increase. Once calculations are completed, COLA will be applied retroactively.
COLA is guaranteed at 60 per cent of the increase in the Alberta Consumer Price Index (ACPI). For more information on how COLA is calculated, see the explanation of the COLA calculation or the Frequently Asked Questions.
For more details on the ACPI, visit the ACPI explanation page.