Payment of Retirement Benefit Cheques

Your first payment is issued no earlier than on the first day of the month following the month last worked and the first day of each month thereafter.

If your last day of employment is either early in the month or if it falls on a statutory holiday such as July 1st, your retirement benefit starts on the first of the following month - in this case August 1st. Therefore you should take this into consideration in determining your retirement date to avoid a break in income between employment and retirement.

The Plan Administration Office issues the Retirement Benefit Cheques and Income Tax Slips (T-4A's).

Retirement Benefit Cheques can be Deposited Directly to Your Bank Account

At the time of your retirement, the Plan Administrator will provide you with the necessary information to effect direct deposits.

Who to Contact after Retirement re: Change of Address, etc.

The Plan Administration Office. The address and telephone number are noted in the front of this booklet..

Medical, Dental and Extended Health coverage at Retirement

The Plan offers an optional retiree group plan and the premiums for these coverages can be deducted from your pension payment.

Income Tax deducted from Cheques

Income Tax is taken at source according to your personal exemption form (TD1). Additional tax deductions can be made at the request of the member and completion of this information on the TD1.

Pension increases after Retirement

The Plan currently does not fund for pension increases after retirement. However, the Trustees have granted adhoc increases in the past and continue to review the fund on an annual basis to determine if there are sufficient funds to provide retirees with a increase.