The Pension Plan is designed to provide monthly income for life to Members who retire under the Plan.
The Pension Plan has been arranged by the Board of Trustees and is administered by D.A. Townley. As the Administrator, D.A. Townley processes remittances from participating employers, manages Member eligibility, and calculates Member entitlement. The Trustees have also appointed other professional service providers such as: actuary, investment consultant, legal counsel, custodian, investment managers, and auditor.
The Plan is funded by contributions made by your employers as required under the Collective Agreement. Your employers contribute into the plan a fixed percentage of your basic monthly wage. Those contributions are invested, together with all other contributions, in a mix of assets chosen by professional investment managers under the direction of the Trustees.
There are four types of benefits provided by the plan.
- Retirement pensions
- Termination benefits
- Death benefits (pre-retirement)
- Disability benefits (pre-retirement)
Please check your Pension Plan booklet or click on the links to the left to access detailed information regarding the Pension Plan.