Branch News

Pension indexing for 2024

At the end of each year, the Treasury Board Secretariat provides the National Association of Federal Retirees with information on the pension indexing increase that is effective Jan. 1 for federal public sector pensions.

The pension indexation rate effective Jan. 1, 2024, is 4.8 per cent. Federal Retirees was instrumental in establishing pension indexation back in 1970.

Information on the calculation of this index can be found on the Government of Canada website

2024 membership fees

The 2024 annual membership fees, effective Jan. 1, 2024, are $55.92 for a single membership and $72.60 for a double membership.

For the memebrs who pay by dues deducted at source (DDS), their monthly deductions, or one-twelfth of the annual amount, will be calcuated by the Pension Centre and reflected on their first pension statment of the new year. For those who pay their membership fees by cheque or credit crad, where the renewal date falls before Dec. 31, 2023, payment for membership renewal will be submitted based on the 2023 fees. Any credit card payments or cheques not postmarked before 11:59 p.m. Pacific Standard Time on Dec. 31, 2023 must be submitted at the 2024 rates.

The Dues Deduction at Source (DDS) payment option is the simplest and most convenient way to pay for your membership with Federal Retirees and to automatically renew it annually.

Thanks to our relationship with the Treasury Board and the Pension Centre, the DDS option allows your membership fees to be deducted directly from your pension on a monthly basis. This translates to $4.66 per month for a single membership, or $6.05 per month for a double. If you have any questions, please check out our FAQs below or contact our member services team.

Any existing member who makes the switch to DDS will receive a one-time special offer of three free months of membership. That's a savings of 25 per cent!

This offer is also available for new members who opt to pay by DDS when they join.