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This video introduces changes to the Municipal Pension Plan for general members, excluding police officers and firefighters. The plan changes, agreed upon by the government of BC, the Union of BC Municipalities, and the Municipal Employees Pension Committee in late 2020, were approved by the Municipal Pension Plan Board of Trustees in March. These changes will take effect on January 1, 2022. The discussion covers how the changes will impact members at various career stages, including adjustments to pension calculations, contributions, and retirement choices. It also notes that the existing formula for calculating pension value will remain in use for all service accrued before the effective date of the changes.
