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NHLPA’s executive board increases pension contributions by $1 million annualy

I was making my usual evening rounds when I found quite the press release on the NHLPA's website:

As part of the hockey dream, all NHL players watched, idolized and hoped to one day follow in the footsteps of those who came before them. It is the players who have continued to pave the path for each subsequent generation of NHL players. It is with this in mind that has led to the players of today to continue to celebrate and support former NHL players.

At the NHLPA’s recent Executive Board meetings in Chicago, the players’ Executive Board voted in favour of increasing the amount that the NHLPA contributes annually towards the Fund for Senior Retired Players by $1 million dollars (USD). There will now be a total of $6 million dollars (USD) that will go to former NHL players over the age of 65 and/or their widows who qualify ($3 million annually will come from the NHLPA and $3 million annually from the NHL).

The Fund came into effect under the 2005 CBA, beginning with an allocation of $1 million from both the NHL and NHLPA. In 2008, the league and the NHLPA each increased their contributions to $2 million per year. The money is distributed to close to 350 former NHL players and/or their widows in increments based on the number of seasons they played. The increased payments from the league and the NHLPA will begin later this year, and will take effect in time for the Fund’s next cheque distribution.

The NHLPA also posted a video regarding the pension increase:

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About Kukla's Korner Hockey

Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

Email Paul anytime at pk@kuklaskorner.com