Ontario Central

COST OF LIVING ADJUSTMENT FOR 2022

For Bell Pension Plan

The Cost of Living Adjustment (COLA) on Bell Canada's pensions is based on the increase in the Consumer Price Index (CPI) over a 12 month period ending on October 31 of each year.

For pensioners under 65 years of age, this number is rounded to the nearest whole number, to a maximum of 2%.

For pensioners 65 years and over, the rule of our pension plan states that the COLA should be the greater of:

• 100% of the increase in the CPI (rounded to the nearest whole number), to a maximum of 2%, OR
• 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 4.7% between October 2020 and October 2021 for Canada as a whole. 

Based on this, the Cost of Living Adjustment on Bell Canada pensions should be 2% in 2022 for pensioners under 65 years of age and 2.82% for pensioners 65 years and over.  The increase will appear on the January pension payment.

For BCE Pension Plan

The Cost of Living Adjustment (COLA) on BCE's pensions is based on the increase in the Consumer Price Index (CPI) over a 12 month period ending on July 31 of each year.

For pensioners under 65 years of age, this number is rounded to the nearest whole number, to a maximum of 2%.

For pensioners 65 years and over, the rule of our pension plan states that the COLA should be the greater of:

• 100% of the increase in the CPI (rounded to the nearest whole number), to a maximum of 2%, OR
• 60% of the increase in the CPI (rounded to the nearest two decimal points), to a maximum of 4%.

According to Statistics Canada, the CPI rose 4.0% between August 2020 and July 2021 for Canada as a whole. 

Based on this, the Cost of Living Adjustment on BCE's pensions should be 2% in 2022 for pensioners under 65 years of age and 2.4% for pensioners 65 years and over.