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Deferred pensions

If you were a former employee who terminated employment and membership in the Plan, you may have selected the deferred pension option. If so, the payment of your deferred pension will start at your earliest unreduced retirement date that was applicable at the date of your termination of employment. (If you selected a deferred pension, you will have received a Certificate of Deferred Pension from the Plan.)

The Plan allows you to start a deferred pension earlier than your earliest unreduced retirement date, but on a reduced basis. This reduction reflects the fact that you are starting your pension early and, therefore, will collect it longer.

The reduction is equal to ½ of 1% (0.5%) for every month that your early retirement date falls before the earliest date your unreduced pension would have commenced. The determination of the date for your eligibility to receive an unreduced pension is based on:

  • your age at pension commencement, and,
  • the amount of continuous service you earned up to your date of leaving.

When you select a reduced pension, your pension (including your bridging benefit, if applicable) will be permanently reduced.

If you have any questions about your deferred pension, contact us.


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