2026 Cost-of-Living Adjustment (indexing)
Your monthly PSSP pension payment will increase in 2026 as a result of the Plan's Cost-of-Living Adjustment (COLA), also known as indexing.
Following the completion of the 2025 Funded Health Review, Public Service Superannuation Plan Trustee Inc. (Trustee) has, in accordance with the provisions of the Public Service Superannuation Act (PSSA), approved COLA of 2.61 per cent per year for the next five-year period from January 1, 2026 to December 31, 2030.
What this means for retirees:
- If you retired in 2025, you will receive pro-rated COLA effective January 1, 2026, based on the month you retire.
- If you retire on or after January 1, 2026, you will not receive any COLA until the following year, and COLA will also be pro-rated based on the month you retire.
About the Funded Health Review
COLA for the PSSP is determined through the Funded Health Review (Review), which is conducted every five years in accordance with the PSSA's funding policy. This policy requires the Trustee to conduct a comprehensive review of the Plan’s funded health to evaluate its ability to afford COLA for the next five-year period. This review examines the Plan's financial position and the adequacy of contribution rates and Plan benefits to support long-term sustainability.