Long Term Disability Rates Up 9.8% for NL Government Workers!

Government workers in this province have seen a substantial increase in their long term disability rates over the last few years.

Many have found their rates going up by as much as 60% in the last five years! Many workers are starting to find these rates unaffordable.

A recent memo from government stated that Long Term Disability Rates are increasing again by another 9.8%.

“Bi-weekly deductions for Long Term Disability will depend on the employee’s class (which is an employee’s actual age minus their pensionable years of service) and their annual salary. An example would be a 45 year old employee with 10 years of service and an annual salary of $60,000. Bi-weekly deductions for this employee would increase from $100.80 to $111.00 (9.8%).”

Buying a personal disability plan might be a good solution. Most Newfoundland government workers can purchase a similar personal plan that guarantees no price increase from enrollment to age 65. These rates can be substantially less than their current plan.

Personal plan rates can be substantially less than their current group plan. In one recent example, an Eastern Health worker was able to bring her rates down from $212 per month to $85 per month, with essentially the same type of coverage she had previously. That’s a whopping 60% decrease.

There’s no cost or obligation if you want to meet with one of our advisors about protecting one of your greatest assets – your future income. Request a meeting. You’ll be glad you did.

Yours in service,


Gerard Nash, B.Comm., CFP ®

Gerard Nash
Gerard graduated from Memorial University of Newfoundland in 1996 with a Bachelor of Commerce Degree. In 2001, he earned the designation of Certified Financial Planner (CFP®) from the Financial Planning Standards Council of Canada. He holds many achievement awards from Freedom 55 including Wealth Advisor of the Year and Corporation of the Year. Gerard is passionate and thorough in building and protecting the wealth of existing and new clients. His practice is in it’s twenty-third year with London Life and Freedom 55 Financial (now Canada Life). In 2019, he incorporated his business under the name 'Principal Planning' and invited additional financial planners and advisors with the same commitment and competencies to join him in providing quality financial advice. Gerard is licensed in the provinces of Newfoundland and Ontario. He welcomes new financial inquiries, and promises excellent, honest advice. Gerard hails from the Cape Shore area in Newfoundland. He lives in St. John’s with his wife, Sharon, and their four children, Joshua, A.J., Connor, and Elizabeth. He is a huge basketball fan and can usually be found coaching and watching his kids basketball games on the weekends!

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