How Does my Membership in the Plan Terminate and
What HappensWhen it Does?
For the purpose of the Plan a Memberís
Membership will be deemed to have terminated if during two
consecutive Plan years his/her Employers have remitted for
less than a total of 350 hours. If this happens, then the
terminating Plan Member will be entitled to receive his/her
accumulated pension in full if he/she is fully vested. If
after receiving his/her accumulated Pension the terminated
Member again becomes a Member of the Plan, he/she will be
treated as a new Member under the Plan and will not be
entitled to any retirement benefits for service prior to
his/her reemployment date. If you terminate your Membership in
the Plan, you will still be entitled to a Pension if you were
fully vested and did not receive a transfer value for your
accrued benefits. Be sure to notify the Plan of any address
changes so that we may keep you informed.
When a Member terminates his/her Membership in
the Plan, if he/she is fully vested (i.e., has more than 1
year of Membership in the Plan and is a member of the Union)
he/she can request the Trustees transfer that part of his/her
Account Balance which comes from contributions paid to the
Plan after January 1, 1993 to his/her locked-in RRSP. A ďlocked-inĒ
RRSP is a special RRSP which prevents you from receiving the
money except when you are ready to purchase retirement income.
The rest of his/her Account Balance can be either transferred
to an RRSP or be paid in cash, less applicable taxes.
I Assign or Borrow Against My Pension?
Benefits under the Plan may not be assigned in
any way, except in certain cases where benefits are split upon
divorce. Your pension is fully protected against all creditors
except Canada Revenue Agency.
Happens if I Die Before Retirement?
If a Member dies prior to his/her retirement,
and is survived by his/her Spouse, the Plan will pay a lump
sum benefit to the Spouse equal to the total value of the
deceased memberís Account Value at the date of his/her
death. Where there is no Spouse, then the benefit will be paid
to the beneficiary and if there is no beneficiary then it will
be paid to the Estate.
In the event of marriage breakdown, new B.C.
Legislation provides for more flexibility as the Memberís
pension becomes part of the family assets to be shared between
the parties. You should contact your legal adviser for legal
advice. Your Spouse has enforceable legal rights to a share in
the benefits of the Plan and the new legislation sets out how
the Plan is to protect his/her rights.
You can have access to all documents relating
to the Pension Plan. Documents can be viewed at the
Administratorís or Union offices. Personal information about
other Members is, of course, not available.
7.What else should I
It is your responsibility to make application to the
Trustees through the administrator to receive benefits when
you are entitled to them. If no application is received by the
Trustees, the Trustees will attempt to contact the person
eligible to receive the payment due. If they are unable to do
so, then the benefit may be forfeited. When you name someone
as your beneficiary, please advise them. When you change your
beneficiary, please advise both parties of the change. Please
request from the Administrator a member record card, if you
1. Change your beneficiary*;
*Please note, if you do have a spouse or are
living with a person for 2 or more years as husband or wife,
you must nominate him/her as your beneficiary.
2. Change your address; or
3. Enrol in the Plan.
Please make sure that you date and sign the
member record card and mail it to the Administrator.