Don’t let pension information be a mystery

Whether you are just starting your career, or plan to retire in the near future, you don’t have to wait until retirement to get full and detailed information about your registered pension plan from your employer.
 
In Ontario, your pension plan administrator must provide:
 
  • A written explanation of the pension plan terms within 60 days of eligibility for membership or your hiring;
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  • An annual statement within six months of the plan’s year-end;
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  • A retirement statement within 30 days of retirement, plus a description of retirement options at least 60 days in advance of your retirement;
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  • A termination statement setting out your options of how to deal with the accumulated value of your pension, within 30 days of your employment termination;
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  • A death benefit statement setting out options and how to receive the death benefit, within 30 days of death to your surviving spouse, designated beneficiary, or estate.
If requested in writing, the pension plan administrator must also make pension documents available for you, or for a spouse, beneficiary, trade union representative, or another person appointed by you. These documents may include correspondence, statements of investment policies and procedures, annual information

 
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