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What else should I know about my pension benefits?

All pension benefits, benefits on terminating employment, death benefits, and other amounts payable are designed to provide retirement income.

Generally, with the exception of marital breakdown, your benefits cannot be assigned to anyone, nor can they be claimed by your creditors even if you become bankrupt.

Contributions by you and your employer are remitted to a pension trust fund.  The pension trust fund is held separate from the assets of your employer.

What happens to my pension entitlement from the Plan if I no longer work for my employer?

If you leave your employer before retirement and depending on your age and years of service, you can choose to receive a deferred pension benefit calculated in accordance with the standard formula or transfer the commuted value of your pension out of the Plan to another locked-in retirement savings vehicle.

How does this impact any other of my RRSPs?

Your membership in the Plan has a direct effect on how much you can contribute to an RRSP.  In each year of membership in the Plan your RRSP contribution room is reduced by a certain amount called a Pension Adjustment (PA).  You will always know how much RRSP contribution room you have because the Canada Revenue Agency indicates the maximum amount you can contribute to an RRSP on your Notice of Assessment.