You may retire at any time following your 55th birthday. Upon retirement, you will receive a pension (lifetime income) based on your accrued pension benefit The monthly pension will be payable for your lifetime. There are options available that may include a payment to your spouse for their lifetime, if applicable.
Upon leaving your employment, you are not required to begin a pension. You may defer the commencement of your pension to a later date (no later than the end of the year in which you turn age 71).
If you would like more information about retirement or planning to retire in the next few years, please contact us.
Your pension benefits are generally "locked-in" and can't be withdrawn as cash.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:
As an Active Plan member, you are not permitted to withdraw your vested pension account until your termination or retirement from your employment.
