Reading Your Statement

As an active member of either or both Plans, you receive an Annual Statement with information about your pension. It summarizes how much pension you earned at the end of the previous year, and shows you up to three possible retirement dates.

The statement contains personalized information showing the pension benefits you have earned in the past year. It shows the key information used in the Plan(s) formula to calculate your benefit, including your pensionable service, pensionable earnings, and your age. Using that information, it also shows the amount of annual pension you have earned to date and your normal and early retirement dates.

Your employer provides payroll data such as your earnings, breaks in employment and service purchases for the previous year. Once we have received all of the required information, the Statements are processed. This procedure normally begins early in the year and can take up to a few months due to the amount of data that must be assembled. We make every effort to deliver your completed Statement to you by the end of June.