Updates from The Board
The Pension and Benefits Board met on March 9 for the annual spring meeting and again on April 4. The board reviewed the financial position of the pension plan and received up-to-date reports presented by the actuaries, the chief financial officer, the various sub-committees and the trustee board.
The actuaries reported the results of the most recent actuarial valuation as at August 31, 2021. The results were very positive, reporting a Wind-Up Funded Ratio of 104% compared to 92.8%, and a Going Concern Funded Ratio of 124.3% compared to 113.7% on the previous valuation as at December 31, 2019.
As a result of the improved solvency funded status, we are pleased to report that the 2022 General Assembly adopted the board’s recommendation to provide a cost-of-living increase to retirees who have been in receipt of pension payments for at least one year, effective January 1, 2023. Information with specific details regarding the actual percentage increase that will be applied to eligible retirees and survivors starting January 1, 2023, will be sent out later in the fall.
To access the board’s full report and recommendations to the 2022 General Assembly, visit the PCBiz website at: assembly.presbyterian.ca/#/committee
Mental Health Coverage Update
The Presbyterian Church in Canada’s extended health and dental plan is a traditional benefit plan that provides coverage for a variety healthcare related expenses. The plan is an extension to provincial health coverage and is designed to assist plan members with providing some coverage towards a variety of out-of-pocket expenses not covered under your provincial plan. Mental health coverage is one of the benefits available through the Sun Life program. With the need for mental and spiritual support on the rise, and recognizing the importance of good mental health, the board was asked through an overture to consider expanding the mental health benefit coverage.
The board conducted a thorough review of the current coverage available as well as the cost for various levels of increases to the mental health benefit. Understanding the importance of maintaining good mental health and in an effort to provide additional support to plan members through the Sun Life plan, the mental health coverage has been increased effective July 1, 2022 from the previous maximum of $300 per benefit year to a maximum of $700 per benefit year. Additionally, the list of practitioners covered under the policy has been expanded to include Registered Clinical Counsellors, Marriage and Family Therapists, Psychotherapists and Psychoanalysts (these are in addition to Psychologists and registered Social Workers who are currently covered). Updated benefit booklets are available on the Pension and Benefits webpage.
Sun Life Lifetime Maximum
Under the PCC Retiree Extended Health Benefit Plan with Sun Life, there is a $50,000 lifetime maximum on medical expenses that can be claimed through the Sun Life program, per person covered. Claims towards the $50,000 maximum start on the day of your retirement, and claim amounts are deducted from the $50,000 limit, until the limit is reached. There is an automatic reinstatement each benefit year of up to $1,000 of benefits paid. This reinstatement will be made on the first day of each benefit year.
To learn more, or to view where you are in your Sun Life Lifetime Maximum, sign in to your Sun Life account at mysunlife.ca and follow these steps:
1. Click Coverage Information
2. Click Medical Coverage
3. Click any medical expense listed
4. Under Overall Maximum, Click View your lifetime maximum balance available
Tips to Keep Your Mind Healthy!
Our busy lifestyles can distract from what is most important: taking care of yourself. Keeping your mind healthy and happy has an impact on your life and everyone around you. Here are some helpful tips to keep your mind in a healthy state!
By allowing yourself to be creative, you’re allowing emotions to be expressed. Whether it’s creating a new meal, writing a poem or designing a scrapbook of memories, letting your creative juices flow can be a lot of fun and very rewarding.
Your body is a hard-working machine. Make sure that you’re getting an extra boost of self-care, such as taking a nap when you need to, taking supplements if you’re not eating as well, moving your body when you can or making an appointment for a massage to ease your stress and strains.
Surround Yourself with Positive People
Everyone deserves to feel supported and have a sense of community. It could be as simple as chatting to a neighbour or dropping by a family members house. By choosing to surround yourself with positive people, you can experience fulfillment in many areas of your life.
Speak to a doctor, spiritual leader, therapist, counselor or coach
If you already have a trusted professional in your life, they can be an unbiased ear. Enlist their support through your good times and your difficult times to help explore new thoughts and perspectives while keeping your mind clear.
Is Your Contact Information Up To Date?
To keep your records updated, we ask that you contact us with any updates or changes to your information. This includes:
- Changes to your address, phone number or email
- Life events that include marital status, birth, adoption or death
- A second contact or Power of Attorney
- Any changes that may include your beneficiaries
The Presbyterian Church in Canada
50 Wynford Dr
Toronto ON M3C 1J7
pension [at] presbyterian [dot] ca
Sun Life Customer Care Centre
In Memory Of…
|The Rev. William W. Baird
The Rev. Charles F. Boyd
Mrs. Nan Budding
The Rev. Janine A. Dekker
Ms. Marjorie G. Durnan
Mrs. M. Marguerite Fish
The Rev. Richard J. Gillanders
Ms. Jessie Gray
The Rev. Dr. Lorna G. Hillian
Mrs. Carol Isaac
|The Rev. Victor Jamieson
Mrs. Joycelyn H. MacKay
Mrs. Greta McGowan
The Rev. M. Dianne Ollerenshaw
The Rev. Dr. Cedric C. Pettigrew
The Rev. Marian E. Raynard
Mrs. Edna M. Reside
Mrs. Ledelina Santiago
The Rev. Robert M. Shaw
The Rev. Robert C. Spencer
|The Rev. Alan Beaton
The Rev. John N. Buchanan
Mrs. Sarah R. Cunningham
The Rev. Dr. S. Wayne Dawes
Ms. Valerie M. Dunn
The Rev. Dr. Cheryl A. Gaver
Mrs. Jean M. Graham
Ms. Lenke O. Herrod
The Rev. Cheryl L. Horne
Mrs. Helen E. Humphreys
Mrs. Ria Kutcher-Gyra
|Mrs. Marian E. Lefeuvre
Mrs. Agnes V.L. Manthorpe
The Rev. Edward John Thomas McGurrin
Mrs. Lillian McNabb
The Rev. Floyd R. McPhee
Mrs. Daphne McWatt
The Rev. Edward W. Musson
Mrs. Alice Jean Nevin
The Rev. Samuel J. Stewart
Mrs. Ann L. Taylor
The Rev. Robert Campbell Taylor