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Pension Benefits – Introduction

Take a look at the latest Pension Benefit Booklet

PENSION BENEFITS  INTRODUCTION

If you work for an employer who makes contributions to the plan on your behalf, membership in the plan is automatic.

All contributions to the pension plan are made by your employer (s), based on the collective agreement negotiated by Local 67 Union.

The plan does not allow employee or member contributions.

Your earned monthly pension will increase for every hour earned that an employer contributes to the plan on your behalf.

Normal retirement age is 62.

You may choose to start drawing your pension as early as age 52 years old. Since you will be collecting your pension benefits longer, your pension will be reduced by 6% per year (1/2 % per month) your retirement date falls before your 62nd birthday.