FAQ's

If you retire early (from age 55), your monthly pension will be reduced to account for longer payouts.

For more details or questions, contact us.

From age 55, you may start receiving a monthly pension for life. If you defer, payments must start by age 71. Spousal or partner options may vary.

• Standard Retirement: Age 65
• Early Retirement: From age 55 if you leave work
• Mandatory Payouts: Benefits must start by the end of the year you turn 71

We use your personal information only for managing the Plan, including calculating benefits and preparing tax documents. Data is shared only as needed and legally required. For privacy concerns, contact us.

If you leave your job with a Break in Service, you’ll receive a deferred pension starting at age 65, with an early option (age 55+) at a reduced rate.

Your pension complements other retirement income, such as Canada Pension Plan (CPP), Old Age Security (OAS), and personal savings.

The Board of Trustees and consultants manage the Plan’s investments to ensure compliance with regulations. The Statement of Investment Policies and Procedures (SIP&P) provides details and is available for review.

Your contributions to the Plan stop automatically if you:

• Terminate employment, retire, or pass away
• Start receiving a Disability Award Pension Benefit
• Remain employed after the year you turn 71

If you pass away as a Plan member, your spouse or beneficiary will get a death benefit equal to the higher of the commuted value of your pension or 100% of your contributions.

Your spouse is automatically your beneficiary unless they waive this right. If you don’t have a spouse or they waive their entitlement, your designated beneficiary will receive your death benefit. Contact Ellement to update your beneficiary or other details.

Eligibility

As an active member, you can only access your pension when you retire or leave your job. If you pass away, your spouse or beneficiary may claim it.

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Break in Service

If you work less than 350 hours over two consecutive years, you may lose active status but still qualify for a deferred pension. If this happens before age 55, you have a one-time option to transfer your benefits to a Locked-In Retirement Account (LIRA) or buy an annuity.

Your pension benefits are generally "locked-in" and can't be withdrawn as cash. They must provide retirement income instead. There are some exceptions for small pensions, which depend on provincial rules. For example:

• In some provinces, if your annual pension benefit is less than 4% of the Year’s Maximum Pensionable Earnings (YMPE) when you retire or leave your job, you may qualify for a withdrawal.
• Other provinces allow you to “unlock” if the lump sum value is less than 20% of the YMPE. If unlocked, this amount can be transferred to an RRSP or paid as a taxable lump sum.

Visit the Board of Trustees page to view who manages the Pension Plan.