Know the Facts

It is important for you to have all the facts about your pension plan so that you can make informed financial decisions. Here are some sample questions or issues you may want to address.

• Am I eligible to join the pension plan?
• Do I have to join the plan?
• What is the name of the pension plan?
• Who administers the plan?
• What is the registration number of the plan and where is it registered?
• How long do I have to work before I am able to join the plan?
• Am I allowed to join the pension plan if I work part-time?
• Are there any brochures, booklets, or videos about the plan?
• What type of plan do I belong to?
• How much do I have to contribute?
• Am I allowed to contribute more, if I want to?
• How much does my employer contribute?
• When do I receive my annual pension statement?
• When will my pension be vested?
• What happens if I leave the company before I retire?
• What happens if I die before I retire?
• What happens if I die after I retire?
• Will my pension be affected if my spouse and I separate or divorce?
• Is it possible for me to unlock any of my pension benefits?
• What is the normal retirement date under the plan?
• What happens to my pension if I continue to work after my retirement date?
• What happens if I become disabled before I retire?
• What happens if I become terminally ill?
• At what age can I retire early?
• Will my pension be reduced if I retire early?
• How is my pension calculated?
• Is my pension indexed to inflation?
• Will my pension be reduced when I receive benefits from the Canada Pension Plan?
• How do I name or change a beneficiary?
• Where can I view the pension plan documents?
• Will I be notified if the plan is amended?
• Does the company offer any sessions on retirement financial planning?
• What happens if my employer’s business gets sold?
• What happens if my employer goes out of business?
• Can I select the investments for my pension fund?
• Do I have a say in how the plan is administered?
• What is the financial position of the plan?

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