Income Tax Status

Contributions to the Plan are tax deductible in the year in which they are made, therefore all benefits under the Plan are taxable income to the recipient in the year in which they are paid.

Annual Statements

As at the end of each year, each Participant receives an annual personalized statement of all contributions and credited interest as well as estimates of earned and projected retirement benefits. Additional information concerning the Plan and government benefits that may be available is also provided in the annual statement.

Assignment of Benefits

Benefits under the Plan cannot be assigned or used as collateral for a loan.