Please note that the following communications was issued by the Yukon Hospital Corporation (YHC) Friday July 13, 2025.
The eCast provides an overview of the 2024 YHC Pension Fund Report, highlighting key updates and positive developments, including details regarding the contribution holiday.
This update reflects the ongoing strength and stability of the YHC pension plan, and PIPSC is pleased to be able to share this encouraging news with our members. The communication aims to keep members well-informed and engaged in the health of the fund, and the YHC appreciates your continued support in helping maintain transparency and trust in the plan’s management.
Pension and Benefits Team, Compensation and Bargaining Services at PIPSC July 17, 2025,
2024 YHC Pension Fund Report
Your annual pension plan fund report is on its way to your mailbox, and we’ve also attached it to this email for your convenience.
This report gives you an update on the health of the plan as of December 31, 2024 completed by our plan’s actuaries. We’re happy to share that YHC’s plan continues to be in a surplus position and it’s growing. This means the plan is in a healthy and secure financial position.
On October 6, 2024, pension deductions temporarily stopped coming off your paycheck, as the plan was in a contribution holiday. With the recent annual filing of the plan’s valuation, it has been determined that the plan will be continuing on this holiday for 2025.
This has no impact on the benefit you will receive from the plan, however, it does impact how your annual statement looks. Your 2024 contributions will only reflect any amounts from January 2024 to October 5, 2024. Your Pension benefit earned to date will reflect the full pensionable entitlement based on your contributed pensionable hours from 2024. Please see the attached FAQ for more detail on how to read your pension statement this year.
This temporary suspension of contributions will continue until the next valuation, which could mean deductions might start again as early as mid-2026.
Your Pension Committee and its two union partners is very active in its oversight of the plan and more information will come in the future regarding contributions.
If you have any questions, feel free to reach out to payroll at yukon-Hospitals-payroll@yukonhospitals.ca.
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