The following questions and answers are for information only and do not cover every detail of the question. If there is any discrepancy between this information and the Nova Scotia Teachers’ Pension Act, the provisions of the Teachers’ Pension Act and Regulations will determine the entitlements and options available.

1. Is there an Appeals Procedure in place for members and pensioners of the Nova Scotia Teachers' Pension Plan?

Yes. The Nova Scotia Pension Services Corporation has made appeal provisions for active and retired members of the Nova Scotia Teachers' Pension Plan.

If a member wishes to dispute, for example, the calculation of his or her pension benefit, or a decision made by the Nova Scotia Pension Services Corporation regarding the purchase of service, that member may initiate an appeal. Click here to download the Appeals Procedure.

As well, Joan Ling of the Nova Scotia Teachers' Union will assist active and retired members of the Pension Plan during the appeals process. Joan can be reached at (902)-477-5621, or toll free at 1-800-565-6788, or by email at jling@nstu.ca.

2. What happens to my pension when I reach age 65?

Your pension has two components, a "lifetime pension" which is paid from the point of your retirement for as long as you live, as well as a "bridge benefit". As the name suggests, the bridge benefit is intended to bridge the period from retirement to age 65 when most people elect to start drawing their Canada Pension Plan (CPP) benefit. When you turn age 65, the bridge benefit of your teachers' pension ceases to be paid and your CPP benefit commences.

• Scenario # 1
  If you elect to start receiving CPP benefits prior to age 65, this is what you should receive each month:
  The lifetime portion of your teacher's pension
  ~ Plus ~
  The bridge benefit of your teacher's pension (until age 65)
  ~ Plus ~
  A reduced CPP benefit from the Canada Pension Plan
• Scenario # 2
  If you elect to start receiving the CPP benefit at age 65, this is what you should receive each month upon reaching age 65:
  The lifetime portion of your teacher's pension
  ~ Plus ~
  The full CPP benefit from the Canada Pension Plan
   

Drawing CPP Benefit at Age 65:
When you begin drawing your CPP benefit age 65, the bridge portion of your teachers' pension will cease, but you will now be receiving your CPP benefit that is unreduced, and this will help to compensate for the adjustment.

top

3. Notification of Pension Benefit Bank Deposit- When do I get one?

You will receive a direct deposit notification statement when you receive your very first pension payment. After that, you will receive one in January of each year. The only other time one will be issued to you is if there is a change in the amount of your benefit. Since you only receive a direct deposit notification statement once a year, it is best to keep that statement in a safe place so that you can refer back to it throughout the year if you need to.

4. When is my pension payment made?

Payments by electronic direct deposit are made on the third last banking day of every month (including December).

5. How can I change my direct deposit information?

Each time you change your banking information you must complete a Direct Deposit Form. If you wish, you may contact the Nova Scotia Pension Services Corporation and we shall send you a form by fax or mail. Return the form to us along with a void cheque or have your bank complete the form and forward it to us.

6. What deductions are made from pensions?

Income tax is the only mandatory deduction from your pension. The amount is based on the TD1 Canada Revenue Agency Personal Tax Credit Return which you file with us when you retire.

top

7. What about health care?

The Province pays the entire cost of health insurance for retired teachers. To continue your health care coverage, you must send the Nova Scotia Teachers' Union Group Insurance Form (on the forms page) to Johnson Incorporated.

Johnson Incorporated
P.O. Box 9620
Suite 400
2701 Dutch Village Road
Halifax, N.S. B3K 5S4
453-1010 or Toll Free 1-800-588-3885

8. May I work after being granted a pension? Do I contribute to the plan?

Yes, you may work for up to 69½ days in a school year after you retire without affecting your pension. On day 70, your pension will cease. It will resume when you stop teaching. In other words, you lose 1/195th of your pension for each day that you work more than 69½ days.

You may not contribute to the pension fund after you have accumulated 35 years of service or reached age 71.

9. Is there a provision to adjust pensions in line with increases in the cost-of-living?

Yes. Please click here for information on the CPI Minus 1% Method; and
here for the Variable Indexing Method.

top