Your pension options at termination or retirement of plan membership

Termination Date

If you are not yet age 55, your membership in the Plan will terminate on the occurrence of the following, whichever occurs first:

• Twenty-four (24) months after the last contribution was made on your behalf or at a later date if certain conditions in the Plan are satisfied, e.g. you are on legal strike, or on vacation or approved leave of absence or you have been laid-off on a temporary basis and are subject to recall under the terms of your Collective Agreement; or
• your death; or
• your retirement.

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Termination Benefits

If you terminate your membership prior to age 55 (for a reason other than death or retirement), you will be entitled to choose one of the following options:

1. transfer your termination entitlement to another pension plan, if that plan permits such transfer; or
2. transfer your termination entitlement to a prescribed retirement savings plan or a registered retirement income fund under which you are the annuitant; or
3. use your termination entitlement to purchase a deferred life annuity from an insurance company as prescribed by the regulation made under the Pension Benefits Act.

Your entitlement will remain in the Plan until such time as you make your election.