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Plan Features

Summarizing the most important and relevant details of Your Pension Plan. Click on your Division below to learn more!

Plan Membership And Contributions print

Becoming a Member

Canada Safeway makes a contribution for each Canada Safeway employee covered by a collective agreement between the company and either UFCW Local 1518 or UFCW Local 247. Your Plan membership begins as soon as Canada Safeway makes a contribution to the pension fund on your behalf.

Contributions

Contributions are payable in accordance with the collective agreement. Canada Safeway makes contributions for all eligible employees. If you are age 30 or older, you also make contributions to the Plan.

Employer Contributions

Canada Safeway makes monthly contributions to the pension fund on your behalf as follows:

Date Amount of Employer Contributions
March 30, 2003 6% of your earnings
December 30, 2007 6.75% of your earnings
December 28, 2008 7% of your earnings

Canada Safeway will contribute an additional 1.7% of your earnings until the end of 2007. These additional contributions were negotiated in order to finance the cost of the increased benefit rate for your service before 1998 (i.e., the $45 benefit rate).

Employee Contributions

The amount of your employee contributions to the Plan is based on your age and calculated as follows:

Age Amount of Employee Contributions Deducted Per Paycheque
30 - 39 1% of your earnings
40 - 49 2% of your earnings
50 and older 4% of your earnings