Applying for your Pension
Ready to retire? Read on to learn about the application process and what you need to do to prepare for retirement.
Get informed
You’re considering retirement—congratulations! Before confirming your retirement, you’ll want to consider the following:
- When you can retire
This Plan's normal retirement age is 65; however, you may choose to retire early. For more information on when you can retire, visit When to Retire. - Estimate your monthly pension from this Plan
Use the Plan’s Pension Calculator to view your pension entitlement and estimate your pension under various retirement dates and options. - Review the pension options
A variety of pension options are available to Plan members. All pension options pay a monthly pension for your lifetime; the only difference is what happens to your pension payments after you die. Learn more about the different pension options by visiting the Pension Options page. - Consider other income sources
If you’re like most Canadians, you’ll have more than one source of income in retirement. You may qualify for government benefits like the Canadian Pension Plan (CPP), Old Age Security (OAS), and the Guaranteed Income Supplement (GIS). For more information on these government resources, visit the Service Canada website. - Health Care coverage in retirement
Plan members who retire with a monthly pension may opt-in to the UFCW Union Benefit Plan for Retirees (the Retiree Plan) - an extended health and dental plan offered through Pacific Blue Cross. For more information, visit the Retiree Health and Dental Coverage page. - Working after retirement
Some members continue working in some capacity after retiring from the Plan. If you return to work for a participating employer after you begin collecting your pension from the Plan and work more than 480 hours per year, the Trustees will suspend your pension until you cease employment or reach age 71.
Watch the video below to learn the steps you need to take to start your retirement application process.
pension application process
The pension application process can take up to three months. Here are the steps you’ll want to take to start your application process:
- Contact your employer
Contact your HR advisor to learn about factors that may affect your choice of retirement date. For example, you may have unused vacation days. - Decide on your desired retirement date
The retirement application process can take up to three months, and pension payments are not backdated, so plan accordingly. - Request a Pension Application Package
At least three months before your desired retirement date, complete the online form at the bottom of this page to notify the Plan administrator of your intent to retire. You will receive a Pension Application Package in the mail within 4 to 6 weeks of notifying the Plan administrator. - Complete your Pension Application Package
You will receive your Pension Application package no later than six weeks after contacting the Plan administrator. Return the completed application package to the Plan administrator before the last day of the month prior to your retirement. This deadline is firm; there are no exceptions. If we do not hear back from you by this date, we will assume that you have chosen not to retire at this time. Once your monthly pension payments commence, the optional form of pension you selected cannot be changed, so be sure to contact the Plan administrator if you have any questions. As with any other important life decision, the Trustees of the Plan encourage you to seek legal or financial advice when making decisions regarding your retirement. - Notify your employer
You must resign from your employment with a participating employer before commencing your pension, otherwise your pension will be suspended. Be sure to notify your employer of your upcoming retirement! - Receive your pension!
Your monthly pension is payable on the last day of each month, and your first payment will be made at the end of the month following the month you retire. For example, if you retire on June 30, you will receive your first payment on July 31. You can choose to be paid via direct deposit or by mailed cheque. Note that the Plan administrator will confirm certain information with your employer, such as your last day of work, your final earnings, and the final contributions made to the pension fund. For this reason, your initial pension payment may be revised once all your earnings information is available.
request a pension application package
To request a Pension Application Package and notify the Plan administrator of your intent to retire, please provide the following information:
IDENTIFICATION DOCUMENTS
Get a head start on the application process and gather all the required documents while you wait to hear back from the Plan administrator. You’ll need a copy of the following identification documents for you and your spouse:
- Drivers license
- Birth certificate
- Passport
- Landed immigrant or Canadian citizenship certificate
- Nexus card
- Name change or marriage certificate, if your name doesn’t match your ID