The Cost of Living Adjustment (COLA) on our pension is based on the increase in the Consumer Price Index (CPI) over a 12 month period ending on October 31 of each year.
· 100% of the increase in the CPI (rounded to the nearest whole number), to a maximum of 2%
· 60% of the increase in the CPI (rounded to the nearest two decimal points), to a maximum of 4%.
On November 17, Statistics Canada released the CPI data for the last twelve months. According to Statistics Canada, the CPI rose 1.4% between October 2016 and October 2017 for Canada as a whole.
Based on this, the Cost of Living Adjustment on our Bell Canada pensions should be 1% in 2018. The increase will appear on the January pension payment.