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%
-60% of the increase in the CPI (rounded to the nearest two decimal points), to a maximum of 4%.
On November 18, Statistics Canada released the CPI data for the last twelve months. According to Statistics Canada, the CPI rose 0,7% between October 2019 and October 2020 for Canada as a whole.
Based on this, the Cost of Living Adjustment on our Bell Canada pensions should be 1% in 2021. The increase will appear on the January pension payment.