GENERAL INFORMATION
WELFARE PLAN
PENSION PLAN
  RETIREMENT DATES
  CREDITED SERVICE
  AMOUNT OF PENSION
  PENSION BENEFITS AT OR AFTER DEATH OF A RETIRED MEMBER
  ADDITIONAL SUPPLEMENTARY BENEFIT
  APPLICATION FOR, AND PAYMENT OF, PENSION
  BREAK IN SERVICE
  NO BREAK IN SERVICE ARRANGEMENT
  DEATH BENEFITS BEFORE RETIREMENT
  TERMINATION BENEFITS
  EMPLOYMENT OF
A PENSIONER
 

DESIGNATION OF
A BENEFICIARY

  GENERAL PROVISIONS
  PENSION PLAN EXCLUDED FROM GROW-IN BENEFITS
  TERMINATION OF PENSION COVERAGE
  GOVERNANCE OF PENSION PLAN AND PENSION FUND
MEMBER BENEFIT BOOKLET
 

 

WELFARE AND PENSION PLANS

Pension Plan

GENERAL PROVISION

The Member Benefit Booklet is a general outline of the Plans and its purpose is to explain as briefly and clearly as possible each of the benefits to which you are entitled.  Should the pension legislation of your province of employment require different terms and conditions than outlined in the pension section of the Member Benefit Booklet, the terms and conditions of the province of employment will apply.

The benefits outlined under the Plans are subject to the terms and conditions of the Plan documents and the Group Master Policies. If there is any conflict between this outline and the Plan documents, the Plan documents will apply in all cases.

(a)        Pension Trust Fund

Contributions by Employees and Employers are paid regularly into a trust fund held by a corporate trustee and invested in accordance with the requirements of the Pension Benefits Acts.  Benefits from the Plan will be paid out of this fund either in cash or by means of pensions provided through the fund.

(b)        Members' Annual Pension Statements   

During the year you will receive a statement effective as of December 31 of the previous year showing your hours worked for which contributions have been made to the Plan, your annual pension earned to the statement date and payable from your Normal Retirement Date, your own contributions to the Plan with and without interest and other required information.

(c)        Assignment of Benefits

The purpose of the Plan is to provide you with an income after you retire.  For this reason you may not assign any of its benefits other than by naming a beneficiary or joint annuitant. The Plan does not confer on an Employee any right or interest in the benefits and the benefits cannot be surrendered except as provided in the Plan.

(d)        Future of the Plan

The Contributing Employers and the International Union of Elevator Constructors expect and intend to keep the Plan in force indefinitely.  However, the Trustees may change or modify the Plan from time to time.

If the Plan is discontinued, all moneys in the Trust Fund, after providing for the expense of the Plan, must be used for the benefit of Employees and their beneficiaries. Distribution will be made according to the terms of the Plan consistent with the Pension Benefits Act.

The Boards of Trustees in their sole discretion have the authority to suspend, delete, or terminate any benefit provided under the Welfare Plan and the Pension Plan, subject to applicable government regulations.  Any particular benefit payable at any particular time does not guarantee that such benefit will be provided for any specific period of time.  Any post-retirement benefits or benefits payable to disabled members may be suspended, deleted, or terminated at any time by the Boards of Trustees in their sole discretion.

(e)        Gender and Number

Unless the context otherwise requires, words in the singular shall be construed as including words in the plural and words in the plural as including words in the singular and words importing the masculine gender shall be construed as including the feminine.

(f)         Documents Considered As Proof of Age

The “best” proof of age is a birth certificate or baptismal certificate. If one is not available, then any two of the following pieces of identification can be used:

  1. Immigration papers
  2. Marriage licence
  3. Citizenship papers
  4. Passport
  5. Drivers’ licence




 

   

READ CAREFULLY, BUT REMEMBER…

This is a general outline of the Plans and its purpose is to explain as briefly and clearly as possible each of the benefits to which you are entitled. The benefits outlined under the Plans are subject to the terms and conditions of the Plan documents and Group Master Policies. If there is any conflict between this outline and the Plan documents and Group Master Policies, the Plan documents and Group Master Policies will apply in all cases. Also remember that no benefits are guaranteed and that the benefits can be changed by the Trustees at any time.

 
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