If you've had a chance to read the 2018-19 Annual Report or highlights, you may have noticed that the ATRF Board was able to reduce the contribution rates for both the Teachers' Pension Plan (TPP) and Private School Teachers' Pension Plan (PSTPP).
For the TPP, contributions will be reduced by 1% of teachers' salaries and for the PSTPP, 0.54%. This reduction will take effect September 1, 2020.
This reduction is the result of strong investment returns, prudent planning and sound pension management. The ATRF Board reviews the plans annually to ensure that they will be able to continue to meet funding objectives of benefit security, intergenerational equity and contribution rate stability and affordability. This is the third reduction since 2016.
For more information about funding or contribution rates, refer to ATRF's Annual Report.