Retirement

How your Pension Benefits are Determined

The amount of your Pension benefits is determined by the amount of contributions that have been made by your employers, any voluntary contributions you have made, and the total amount of interest earned on those contributions.

Please see the Retirement Benefit of the Pension Plan booklet for further details.

Each year you will receive a statement of your benefits under the plan provided that you keep your address up to date with the Administrator. You should review this statement to verify that your employer has made contributions that are correct based on your wages earned.

When You are Eligible to Start Your Pension

You may access your benefits from the plan any time after age 55, assuming you have retired from active employment. Canadian tax law states you must retire from the Plan by the end of the calendar year in which you turn 71.

Please see the Retirement Benefit section of the Pension Plan booklet for further details.

How to Apply for Your Pension

You must apply in writing to begin receiving your pension. If you do not apply for your pension when eligible, you will not receive back payments.

To give yourself enough time to review the optional forms of pension and complete the necessary forms, you must contact the Administrator at least three months in advance of your retirement date to ensure that you receive your pension on your chosen date of retirement. The Administrator will then provide you with a package outlining your options and including all forms that you must complete.

Your retirement benefits will start on the first day of the next month after:

• the Administrator has received your complete application and all requested documents,
• your hours of work in the relevant periods have been confirmed, and

your pension has been calculated.