Members > Pamphlets > Terminating Employment

Does one of these situations describe you?

Termination

Member Handbook - Termination

Under age 65, with less than 2 years of Pensionable Service or Plan membership?

Entitlement:
a refund of your contributions plus interest. This amount can be transferred to a Registered Retirement Savings Plan, or taken in cash, which is subject to income tax.

To do:
When you receive your Non-vested Termination Option Document, make your choice and return the signed form to the Plan, along with a Canada Revenue Agency T2151 form if you will be transferring the funds into an RRSP.

Under age 55 with between 2 and 20 years of Pensionable Service or Plan membership?

Entitlement:
Deferred Pension or a Commuted Value transfer.

To do:
When you receive your Vested Termination Option Document, make your choice and return the signed form to the Plan, along with related tax and banking information if you choose a Commuted value transfer.

Between 55 and 65 with more than 2 years of Pensionable Service or Plan membership?

Entitlement:
an immediate early retirement pension or a Deferred Pension.

To do:
When you receive your option document, make your choice and return the signed form to the Plan, along with TD1 tax forms and a void cheque if you choose an early retirement pension.

Between 50 and 54 with more than 20 years of Pensionable Service?

Entitlement:
an immediate early retirement pension, a Deferred Pension, or a Commuted Value transfer. Note that this Commuted Value transfer option will not be available after the end of 2012, due to changes made to the Plan text in 2007. See the pamphlet called Retiring Early: the 50/20 Option for more details.

To do:
When you receive your option document, make your choice and return the signed form to the Plan, along with TD1 tax forms and a void cheque if you choose an early retirement pension, or a Canada Revenue Agency T2151 form and a Direction to RRSP/RPP Administrator form if you choose a Commuted Value transfer.

January 2009