Permanent employees and Term employees (CSU National Office Component and CEU):Plan participation is compulsory for all permanent employees on the first day they become permanent; and for term employees on the first day they are appointed as term employees.
Temporary employees:
Temporary employees have the option to become a member if in the calendar year immediately preceding enrolment they:
Membership will be effective on January 1st of the year next following the year in which either of the above listed requirements has been met.
Manitoba Temporary employees:
Temporary employees working in Manitoba, are required to join the Plan if they have completed 24 months of employment and, in each of the two calendar years immediately preceding enrollment they earned at least 25% of the Year’s Maximum Pensionable Earnings (YMPE). Membership will be effective on the first day of the month following meeting the requirement.
Your pension is based on the following formula.
2% x the average pensionable salary x the total credited pensionable service (to a maximum of 35 years)You can use the Pension Estimator to estimate the amount of your pension benefits. The calculator is available on the Pension Estimator tab.
Each year, before June 30th, the CEPP’s Administrative Agent, will send you a statement detailing your contributions, pensionable service, pensionable salary and more information related to your pension benefits.
No, once enrolled, you must remain a member of the CEPP until termination of employment.
Yes, you may put your children as beneficiaries as long as a spousal waiver is signed by you and your spouse.
You can visit their respective Web site at:
CPP: www.servicecanada.gc.ca/eng/services/pensions/cpp/index.shtml
QPP: www.rrq.gouv.qc.ca/en/accueil/Pages/accueil.aspx
OAS: www.servicecanada.gc.ca/eng/services/pensions/oas/index.shtml
FSCO: http://fsco.gov.on.ca/en/pensions/pension-plan-guide/pages/pensions-home.html
You should apply at least six months before you want your pension to begin.
Indexation is provided in years when the financial situation of the CEPP permits it, based on the rules defined in section 13.4 of the CEPP plan text as amended by Amendment #73.
Yes, membership fees are deducted from the January 1st pension payment. If you wish to have your membership fees deducted from your pension benefits, you must complete the Retiree Association form and return it to the Administrative Agent.
Yes, RBC Investor Services (financial institution which makes the monthly pension benefits payments) will deduct federal and provincial income taxes as if your pension was your sole income. Additional tax deductions can also be requested by contacting the Administrative Agent.
You may contact the Administrative Agent if you require a copy of your T4A.
You may contact the Administrative Agent if you need to change your address.
Benefits accrued in a pension plan during marriage or civil union, are part of the family assets. If the value of the benefits accrued under your pension plan is actually partitioned between you and your former spouse, this may reduce the pension you are receiving.
Consult your personal legal counsel as needed.
To know the value of the benefits accrued under your pension plan, you must make the request with the CEPP Administrative Agent. Depending on your province of residence, the proper forms will be sent to you.
