How is my Annual COLA Payment Calculated?

For the January 2019 Payment

Your monthly HEPP pension amount x 12 (months in the year) x COLA rate approved by the Board of Trustees for that year + prior years cumulative COLA amount = actual COLA payment for the year.

Example: Monthly pension is $1,000, prior years cumulative COLA amount is $72, COLA rate is 0.8%.

($1,000 x 12 x 0.008) + $72 = $168.

On January 1, you would receive your $1,000 regular monthly pension amount and a second deposit for your additional annual COLA payment of $168. The next month you would receive your $1,000 regular monthly pension amount.  

The COLA will be paid based on the pension you were receiving on November 1 of the previous year, including:

  • Any ad hoc COLA that is being paid from HEPP,
  • Supplementary and bridge benefits, while you are receiving them, and
  • Pensions that have been integrated with OAS on an actuarial equivalent basis.

The COLA will not be paid on:

  • COLAs previously granted from the COLA Plan fund. The COLA is not compounded.
  • Beneficiary or spousal pensions.

© 2022 HEB Manitoba


Disclaimer - This website provides a basic overview of the Healthcare Employees' Pension Plan (HEPP) and the Healthcare Employees' Benefits Plan (HEBP) (collectively the HEB Manitoba Pension and Benefit Plans). Not all employers participate in all Plans. Please check your eligibility for benefits with your employer.

HEB Manitoba is a name notation registered by the Healthcare Employees’ Pension Plan – Manitoba and the Healthcare Employees’ Benefits Plan – Manitoba and under which each of their respective undertakings is carried out.

The information on this website is for convenience of reference only and has no official sanction. View our full disclaimer here.