Since 1992, the Income Tax Act (ITA) placed a limit on how much pension can be earned in registered defined benefit pension plans (like the Teachers' Pension Plans) in one year. The Teachers' Pension Plans Regulation used to contain a provision that dictates how the ITA limits are applied to plan members' pension benefits at the time of retirement. On November 7, 2018, the Government of Alberta announced an amendment to the Teachers' Pension Plans by the plan sponsors (the Alberta government and the Alberta Teachers' Association) to remove this salary cap. This change came into effect on January 1, 2019 and resulted in an increase to some pensions. Following this change, about 900 (or around 3%) of the almost 30,000 retired members who were in receipt of a pension under the Teachers' Pension Plans saw an increase in their pension payments. More information is available in our 2018 newsletter.