AFTER WOR K
A Newsletter for Retired Members of the WorkSafeBC Pension Plan
WINTER 2013
Trustees’ Message
E
ffective January 1, 2013, all retired members
of the WorkSafeBC Pension Plan received
a 1.2 per cent cost-of-living increase, to match
the increase in Canada’s Consumer Price Index
(CPI). The actual dollar amount of the increase
varies, depending on the size of your pension.
Your particular increase is shown on your
pension statement. Members who began collecting their pension in 2012 will see an adjustment of 1/12 of the total increase for each month
they received a pension cheque. Cost-of-living
adjustments are not guaranteed, but once they
are granted they become part of the guaranteed
basic pension.
For more information on cost-of-living adjustments, please see the article below.
The WorkSafeBC pension plan offers considerable security and value for our members.
The pension plan is a defined benefit plan and
depends on a healthy and sustainable asset base,
which we are committed to managing.
You may be hearing more about pension
plans in the news these days. There is certainly
more pensions news than ever before. Some of
the news relates to plans facing financial difficulties. We want to reassure you that at this time
the WorkSafeBC pension plan remains well
funded and the basic pension is guaranteed.
Being well funded means the plan is in a position to meet its ongoing pension promise to all
members.
We have achieved this in part by managing member and employer contribution rates
based on information from regular assessments
(known as actuarial valuations) of the plan’s
financial health. Actuarial valuations are
done every three years. The last valuation was
performed as at March 31, 2012 with results
available in the spring of 2013.
Despite recent fluctuations in investment
markets, we continue to work with our investment manager, BC Investment Management
Corporation, to take a measured, prudent, longterm investment approach to maximize returns
and minimize risk. In the coming year we will
continue to work hard to monitor the investment returns in a world of market uncertainty. 
Cost-of-living adjustment and
inflation adjustment account
T
he Cost-of-Living Adjustment (COLA) is an increase to a pension payment granted on an
annual basis, based on the change in the Canadian Consumer Price Index (CPI) between the
previous two Septembers.
Cost-of-living adjustments are subject to sufficient funds being available. It is important to
remember that cost-of-living adjustments are not guaranteed but, once granted, become part of
the guaranteed basic pension.
D
edicated, knowledgeable and conscientious trustees are essential in the management of
pension plans. Our three
WorkSafeBC trustees,
Brian Erickson, James
Morrison and Paul Martin, demonstrate these key
Brian Erickson
attributes. The trustees are
responsible for making
recommendations around
the prudent investment
of the plan’s assets and
ensuring the plan’s administrative services are
provided to plan members. They are appointed
by the WorkSafeBC Board
James Morrison
of Directors and represent
both plan members and
WorkSafeBC.
We want to thank Steve
Barnett for all his hard
work and dedication and
wish him well in his new
position as chief operating officer with the BC
Investment Management
Paul Martin
Corporation (bcIMC).
After four years as your employer representative,
Steve took his position at bcIMC in July 2012.
He joined WorkSafeBC in 1996 and held a number of senior executive roles including senior
vice-president and chief financial officer.
cont’d on page 2
continued on page 2
WorkSafeBC Events coming up in 2013
H
ere are some of the upcoming events in 2013 that many of you ask about. To confirm
dates or ask about a specific event, call our reception desk in Central Human Resources.
They can be reached weekdays at 604 276-3009, 8:30 a.m. to 4:30 p.m.
Also, if you will be attending any events please provide your name and date you will be
visiting with HR reception. WorkSafeBC requires a list of visitor names for each day.
• Day of Mourning—April 28, 2013. We will commemorate on Friday, April 26, 2013. Among
the different locations, there will be ceremonies at the Richmond Complex Atrium and at
Jack Poole Plaza in Vancouver (time to be determined).
• Health & Wellness and Sustainability Fair—October 2013. Will take place at the Richmond
Complex. Booths will be set up to showcase various services that will enhance your personal
well-being and the Retiree Association will be on hand as well.
• Halloween Costume Contest—October 31, 2013, Richmond Complex Atrium. Drop by to
watch the judging of the best costumes.
• Book Fair—November 2013. Fair runs for two days at the Richmond Complex Atrium. 
IN THIS ISSUE
Power of attorney................................ 2
Premium deductions on January
statement....................................... 2
MSP increases for 2013.. ........................ 2
Improved pension statements
included with this issue..................... 2
Report on the plan............................... 3
10 Questions to ask your pharmacist....... 4
Ways to save money on health
care expenses.................................. 4
2006-063 WCB AW 2012.12.06
HealthTalk
Meet the Trustees’ (continued from page 1)
Brian Erickson has now replaced Steve in
this role as your new employer representative.
Brian began his career with WorkSafeBC in 1989
after 15 years with Sears Canada. He started in
internal audit and moved his way to controller
and now senior vice president and chief financial officer.
Brian brings to the pension plan an extensive
background in finance, having completed his
master of business administration, Certified
General Accountant designation and Canadian
Securities course. He sees his responsibility as a
trustee as an opportunity to share his financial
insight and his knowledge of WorkSafeBC.
When not involved in WorkSafeBC, Brian
and his wife of 31 years, Wanda, travel the world
having visited Africa (including doing a safari
in Tanzania and climbing Mount Kilimanjaro),
China, Australia, the Galapagos Islands, the
Ecuadorian Amazon, and numerous countries
in Europe. And they won’t stop here: there are
even more countries on their wish list they plan
to visit. Brian and Wanda also love the outdoors
and are regular Grouse Grinders and have completed a half marathon and many 10km races.
Our second WorkSafeBC trustee, James
Morrison, has been a WorkSafeBC member
representative since July 2011. As a case
manager in WorkSafeBC’s Victoria office since
2004, James became involved in the plan in
2005 as the Compensation Employees’ Union
pension observer. Previously, he worked for over
a decade as a pension committee member and
was a trustee for the Insurance Corporation of
British Columbia pension plan.
James came to work in pensions a little by luck,
but he started to really enjoy the work as his
“pensions are a trust, and both the
trust and the trustees are created
for the benefit of the people.”
knowledge grew—along with his understanding
of the importance of a good pension. He says
being a trustee is very fulfilling, challenging and
interesting and he likes to know that he is acting
to benefit the members of the plan. Paraphrasing the Henry Clay quote, James says, “pensions
are a trust, and both the trust and the trustees
are created for the benefit of the people.”
James and his wife Debra live in Victoria and
have two grown children. They are active skiers,
travelers, are involved in the Victoria basketball,
fitness and rugby communities, and love spending time outdoors on the rugged west coast.
Paul Martin is relatively new to the board
becoming an independent trustee for WorkSafeBC in July 2012. He brings many years of
experience in the public service, having recently
retired from the B.C. Government and Service
Employees’ Union (BCGEU). Paul joined the
BCGEU as a social policy researcher in 1984,
and has dedicated the last 25 years to working
exclusively on pension plans and pension policy.
Paul graduated from the University of Victoria and went on to complete a diploma in Public
Sector Management. In addition, he has completed trustee specific training and seminars.
He has held numerous positions on the Public
Service and College pension boards and served
as a director of the BC Investment Management
Corporation from 2003 to 2007. He is also a
former member of the board of directors at the
BC Pension Corporation. Paul says it is a privilege to serve as a trustee as it’s an opportunity to
stay engaged in a topic that he spent so much of
his life doing and he can now do it away from
the workplace.
Paul and his wife Shirley live in historic New
Westminster and have two children and two
grandchildren. They love to get out and walk,
and with 110 walking trails throughout the
Lower Mainland, Paul and Shirley plan to get
through as many of those as they can. 
HealthTalk
Cost-of-living adjustment and
inflation adjustment account
(continued from page 1)
Your basic monthly pension is paid out of an
account called the basic account. COLA, however,
is paid from a separate account called the inflation adjustment account. Note that both employers and members contribute to the inflation
adjustment account, and then these contributions are invested.
Basic pension plus cost-of-living adjustments granted
$10,000
$10,772
�$772
$11,996
$13,320
$14,529
$1,996
$3,320
$4,529
$10,000
$10,000
$10,000
$10,000
$10,000
1993
1998
2003
2008
2013
Basic pension
Cost-of-living adjustments
Why it matters: Factoring in COLA, a pension
of $10,000 in 1993 is now $14,529. 
Power of attorney
I
f you are sending us notification of a power
of attorney agreement, please ensure it gives
your attorney the right to make changes to your
pension, including where payments can be
directed. Some powers of attorney might allow
for financial transactions to be made on your
behalf, but may not include the ability for
an attorney to redirect your pension payment
or make any necessary changes to your
health benefits. 
After Work • Winter 2013
Improved pension statements included with this issue
G
oing forward, the pension statements you receive from us will be easier to use and more
informative.
Your new statement will feature an updated format that will make it easier to find information.
It will also show more details about your pension, including information we have on file
about a beneficiary or power of attorney; the amounts of your lifetime pension and any bridge
benefit still in pay; your initial pension payment at retirement and the amount of cost-of-living
increases since that time; and your detailed income tax information, including your tax credits
and exemptions.
At a glance, you’ll be able to review details about your pension benefit, and you’ll know if you
need to contact us to update your personal pension information. 
Changing marital status
I
f you become separated or divorced, please
submit a copy of your legal separation agreement or divorce papers to Pension Services.
For more information, see the PensionFacts on
How a separation or divorce affects your pension
under Publications at worksafebc.pensionsbc.ca. 
MSP increases for 2013
T
he provincial government has announced
a rate increase for Medical Services Plan
(MSP) premiums effective January 1, 2013. Premiums are paid the month prior to coverage, so the
January increase was reflected on your December pension payment. MSP premiums are a
taxable benefit for WorkSafeBC retirees.
Monthly rates increased to:
• $66.50 for one person (from $64)
• $120.50 for a family of two (from $116)
• $133.00 for a family of three or more (from $128) 
Premium deductions on
January statement
Y
our January statement shows the dental
premiums that were deducted from your
previous year’s pension payments if you have
dental coverage.
You may be able to claim these costs on your
income tax return, in which case the statement
is your receipt and no other receipt will be
issued. Please contact Canada Revenue Agency
at 1 800 959-8281 if you have questions. 
Estate planning
B
e prepared for unexpected changes by
ensuring you and your partner have your
wills and financial affairs up to date. The plan
has encountered situations where monies
cannot be paid because the named beneficiary
cannot be located or there is no will or no legal
estate administrator. 
2
Report on the Plan
A
major responsibility of the trustees is to oversee the financial health
of the plan. Our goal is to achieve long-term performance by following sound investment principles that direct the fund managers to invest
prudently in entities with high standards of corporate governance and
environmental and social practices.
For a listing of WorkSafeBC Pension Plan’s financial holdings please
see the WorkSafeBC Pension Plan 2012 Annual Report available under
Publications on the web at worksafebc.pensionsbc.ca. 
Investment performance
Financial statement highlights
Why it matters: This table presents the investment returns the plan
achieved in 2011–2012 and the five-year annualized rate. These are
compared with benchmarks and prior year returns. Benchmarks help
us measure how well the plan is doing compared to other institutional
investors.
March 31 ($ Millions)
2012
2011
Net assets—beginning of year
$1,217.5
Investment income 82.9
Contributions*
39.7
Benefit payments
(38.1)
Investment & administration costs (2.3)
$ 972.6
98.4
179.5
(31.0)
(2.0)
Net assets—end of year
$1,217.5
$1,299.7
Performance
benchmarks*
2012
Market value ($ Millions)
Market value rates of return
Annual
4.8%
Five-year annualized
4.0%
*
Actual as at
March 31
2012
2011
$1,298.8
$1,215.9
6.7%
3.8%
Benchmarks are standards to compare against actual investment returns
Net assets available for benefits
* 2011 includes a one-time solvency payment of $139 million
Why it matters: This table shows how much money the plan has available
for providing pension benefits and compares that number to the previous
year’s figure. Year-to-year summaries only provide a snapshot in time; our
goal is to grow the plan assets over the long term and achieve consistent,
reliable performance by following sound investment principles.
as at March 31
$ Millions
1,217.5
972.6
953.5
178.8
774.7
Investment asset mix and performance
848.0
194.0
1,299.7
199.1
177.5
153.5
694.5
795.1
1,023.5
1,100.6
March 31, 2012
Approved Target asset
range (%)
mix (%)
Rate of return (%)
Performance
benchmark (%)
28–48
0–10
0–11
18–32
0–10
38 2
6
25 5
34.9 3.8 4.7 21.6 4.8 9.6
3.7 6.2 10.0 15.9 9.4
0.9
5.0
9.7
16.4
Equities*
Canadian Equities
Global Equities+
Emerging Markets
23–48
6–19
10–30
0–10
35 11 19 5
40.9 11.9 22.8 6.2 (0.6)
(9.3)
4.8 (2.0)
(1.7)
(10.2)
4.2
(6.3)
Real Estate
10–20
15 15.1 16.5 5.9
12 6
9.1 4.1 **
**
**
**
6
5.0 **
**
100 100.0 Asset Mix Total
Net assets available
for basic benefits
Net assets available
for inflation benefits
Asset mix
market
value (%)
Fixed Income
Short–term
Mortgages
Nominal Bonds
Real Return Bonds
Private Placements
and SIIF**
5–24
Private Placements***
0–12
Strategic Investments
and Infrastructure (SIIF) 0–12
9.4%
4.7%
6.7
4.8
2008
2009
2010
2011
2012
Why it matters: The graph above presents the total amount of funds
available over each of the past five years for the basic pension and for
inflation adjustments. These assets do not include funding for
post-retirement group benefits.
Investment holdings (market value) ($ Millions)
as at March 31, 2012
Strategic investments and
infrastructure $64.5 5%
Short-term $49.2 4%
Private placements
$53.9 4%
Mortgages $61.4 5%
Bonds $342.5 26%
Canadian equities $154.8 12%
Real estate $195.8 15%
* The returns for Global Equities and Emerging Markets are calculated from January 1, 2011, when the
plan began participating in these equity pools.
** The rate of return not applicable.
***The target mix for Private Placements was increased from 5% to 6% effective January 1, 2012
+ The target mix for Global Equities was reduced from 20% to 19% effective January 1, 2012
Total portfolio $1,298.8 million
Why it matters: This table shows what the plan invests in and how well
the investment categories performed in the year compared with benchmark returns. It’s a gauge of how well your money is being managed.
Why it matters: This chart shows the investments the plan holds,
separated by type.
Emerging markets equities $81.0 6%
Global equities $295.7 23%
HealthTalk
WorkSafeBC participates in Parades
E
ach year WorkSafeBC participates in several parades, reaching more
than 700,000 people with our health and safety message. Contact
Nancy Wegman at 604 214-5459 or email [email protected] if you
would like to volunteer in a parade and be part of something special.
• Celtic/St Patrick’s Day Parade – Downtown Vancouver every March on
the Sunday before St. Patrick’s Day.
• Hyack Parade – New Westminster in May.
• Steveston Salmon Festival Parade – In the historic Richmond fishing
village of Steveston, July 1.
• Pride Parade – Downtown Vancouver during the August long weekend.
• Santa Claus Parade – Downtown Vancouver in December. 
After Work • Winter 2013
How to contact us
Mail:
WorkSafeBC Pension Services
PO Box 9460
Victoria BC V8W 9V8
Email: [email protected]
Phone:
Victoria: 250 356-9669
Toll-Free (Canada and U.S.): 1 866 322-9277
Fax: 250 953-0431
Web: worksafe.pensionsbc.ca
Comments about all articles can be sent to the After Work editor at
[email protected].
After Work is published annually. You may receive more than one copy if you
receive a pension from more than one pension plan. Read your statement letter
to determine which plan provides your group benefits.
3
RetirementNews
Your tax receipt is enclosed
Your 2012 tax receipt is included with
this newsletter. Please keep the receipt
to file with your tax returns. If you
have questions about completing your
tax return, please contact an accountant or call Canada Revenue Agency at
1 800 959-8281. 
Your monthly deductions
We are required to deduct the minimum amount of tax allowable by
Canada Revenue Agency (CRA) unless
you specify otherwise. You can send us
a TD1 Personal Tax Credits Return form
for the province in which you reside or
advise us in writing if you would like
to change the amount of tax deducted
from your pension.
Note that if you have additional
forms of income, including from Old
Age Security and the Canada Pension
Plan, this could put you in a higher tax
bracket and result in increased taxes
owed to CRA.
If you live outside Canada, we use
tax rates given to us by CRA for the
appropriate country. If you move
outside of British Columbia to another
province or territory we will deduct
income tax appropriate to that province or territory. This could impact
your tax return and your pension payment. Please note we will not send you
a statement if your payment changes
as a result of a change in residence.
If you move outside Canada you
need to determine your residency status for tax purposes using form NR73,
and advise us of the results so the
appropriate tax withholdings are made
for your new country of residence.
You can download TD1 and NR73
forms from the CRA website at www.
cra-arc.gc.ca or call CRA at 1 800 9598281 for additional information. 
CPP, OAS, GIS
Canada Pension Plan (CPP) benefits
do not begin automatically. If you are
eligible, you should apply six months
before you want to begin receiving
them.
Similarly, Old Age Security (OAS)
does not begin automatically, and you
should apply six months before age 65
to see if you are eligible to receive this
benefit. Contact Service Canada to
assess your eligibility for OAS or other
benefits such as Guaranteed Income
Supplement (GIS), the Allowance or
the Allowance for the Survivor. Events
such as a pension payment ending,
reduction of annual payment or the
loss of a partner can create a new
income reality.
CPP has introduced a series of
significant changes designed to give
you more options so you can make
CORNER
10 Questions to Ask Your Pharmacist
1. Is there a generic form of this drug, or can you recommend a less costly
therapeutic alternative?
2. Do you have any other written material about my medication?
3. What does this medication do?
4. How long will it take for me to see some effect from this medication?
5. Where should I store this medication?
6. What should I do if I miss a dose or stop taking my medication?
7. What are the risks and side effects of taking this medication and which
should be reported immediately to you or my doctor?
8. Are there foods, drinks or activities I need to avoid while taking this
medication?
9. Will this medication interact with over-the-counter medication, herbal
products or other prescribed medication?
10. Are there any non-prescription products you can also recommend for
my condition? 
Ways to Save Money on Health Care Expenses
Here are a few things that we can all do as health care consumers to help ensure
the sustainability of our benefit plans:
• Always ask if generic alternatives are available to brand name drugs.
• Shop around for the lowest mark-up and dispensing fee on prescription drugs.
• Register for Fair PharmaCare. The government drug plan will pay 100 per cent
of your drug expenses once you reach your family maximum. Register online
at www.health.gov.bc.ca/pharmacare or by phone at 604-683-7151 (toll-free
1-800-663-7100).
• For expensive drugs, ask your doctor to apply for funding through PharmaCare’s
Special Authority Program.
• Always submit health and dental claims by your plan deadline.
• When accessing paramedical services, ensure your provider is registered and
that they charge according to our reasonable and customary rates.
After Work • Winter 2013
decisions that are right for you as
you make the transition from work
to retirement. The government is
gradually introducing these changes
between 2011 and 2016.
For more information and to determine eligibility, please contact Service
Canada at 1 800 277-9914 or visit the
website at www.servicecanada.gc.ca. 
U.S. direct deposit
Retired plan members living in the
United States can now have their pension payments deposited directly to
their U.S. bank account. Direct deposit
is a secure, dependable, convenient
and cost-effective way to receive your
pension payments. Among other
advantages, it ensures your payments
are not affected by mail disruptions,
and it eliminates the chance of lost or
stolen cheques.
If you wish to have your pension
payments deposited directly to your
U.S. bank account, please complete a
U.S. Direct Deposit Authorization form
(available on the plan’s website in the
Retired Member/Forms page), have it
validated by your financial institution
and return it to the address indicated
on the form. You must provide a U.S.
personal home address and phone
number when enrolling in the direct
deposit service.
Information you need about your
direct deposit pension payments,
including deposit dates and the latest U.S. exchange rate (your pension
payments will be converted from
Canadian to U.S. dollars), is available
online on the plan’s website, in the
Retired Member/Information page.
Deposit dates may vary from the dates
listed on the plan website because of
additional processing requirements for
these payments.
If you have questions about this new
service, please contact 1 800 663-8823. 
Here comes your payment
Your 2013 pension payments will be
deposited directly into your Canadian
bank account on the second-to-last
banking day of each month, except
for December, when the payment is
deposited on the last full banking day
before Christmas.
January 30
February 27
March 27
April 29
May 30
June 27
July 30
August 29
September 27
October 30
November 28
December 23
Direct deposit is not available outside of Canada and the United States;
mailed cheques should be received by
the above dates, but exact dates cannot
be guaranteed. 
• Ask your dental provider if he/she charges in accordance with the Pacific Blue
Cross Dental Fee Schedule.
• Take advantage of the savings offered through your Blue Cross membership.
The Blue Advantage program provides savings at point of sale on the total cost
of products and services from participating providers across Canada, regardless if
the item is covered under your benefit plan. 
Take Advantage of Great Savings
The Blue Advantage program allows Blue Cross members to save on medical
equipment, vision care and many other products and services offered by
participating providers across Canada.
The program is unique because it provides savings at point of sale on the
total cost of products
and services from
participating providers
across Canada,
regardless if the item
is covered under your
benefit plan. Simply
present your Blue Cross
identification card
to the participating
provider and mention
the Blue Advantage
program.
Never miss a great
deal! Visit our website:
www.blueadvantage.
ca and sign up for
our e-mail newsletter
featuring significant
savings and new
providers joining
the program. 
4