Are you a part of the Teamsters Canadian Pension Plan?
To improve your retirement income and to make every one of your hard-earned dollars count
– the TCPP is the pension plan that works.
Message from the Chairman
Teamsters has been serving its members for over a century to provide fair opportunities in the workplace, equality and security. As part of our commitment, it is of paramount importance that our members have access to a pension during their retirement years. This is what Unions do – to represent our members’ best interests – now and into the future!
Are you a part of the TCPP?
Formed with just 500 members in 1981, The Teamsters Canadian Pension Plan (TCPP) is a good plan and a powerful arrangement allowing any size group to maximize its retirement benefits to members while providing many advantages. To improve your retirement income and to make every one of your hard-earned dollars count – the TCPP is the pension plan that works.
The structure of the TCPP
The principal components of the structure are the Board of Trustees, the Divisional Retirement Committees and the professional consulting organizations that are called upon by the Board and the Committees to help carry out their activities. The Board can create subcommittees on an ad hoc basis to deal with specific issues that require in-depth analysis.
5 Reasons Why Your Teamsters Canadian Pension Plan Provides More Than an RRSP
- Professionally Managed Fund – Unlike the average person who invests in an RRSP, the Plan is a professionally managed fund meaning it has access to a wider range of investments and knowledgeable advisors, leading to potentially higher investment returns and in turn, higher pensions.
- Lower Costs – Investment management fees can be significant when you invest in an RRSP, ranging from 2.0% to 2.5% of the value of your assets each year. Since costs can be spread over a larger membership base (TCPP currently has about 11,900 members), the investment management fees are significantly lower on a per-member basis under the TCPP.
- Pensions for Life – Under the TCPP, there is better retirement protection, as opposed to an individual RRSP where funds may run out while the person is still living.
- Greater Predictability of Pension Benefits – A defined benefit plan design, like TCPP, allows for better retirement planning. An RRSP will indicate the value of your pension but not exactly how much you will receive each month whereas as a member of the TCPP, which has a well-defined formula, you will know with greater confidence the targeted amount of your monthly pension at age 65.
- Ability to Withstand Reductions in value of Assets – Potential reduction in assets due to volatile markets are managed in the Plan as a collective group which provides more funding stability, whereas, in an RRSP, it is more limited, particularly if an individual is close to retiring and the individual has limited contribution room.
No longer working for an employer that contributes to the Plan, but still far from retirement?
Discover what to expect and the options available to you.
- 5 Reasons Why Your Plan Provides More Than an RRSP
- Employment Changes (Video)
- You Asked (FAQ)
- Financial Position of the Plan (Video)
- Part 5: Replacement Ratio
- COVID-19 and your Pension Plan (Video)
- COVID-19: Update for Plan Members
- COVID-19: Your Benefits are Secure
- Your Monthly Pension Payment Options
- Part 4: Workplace Pension Plan
The TCPP is the pension plan that works.
Improve your retirement income and make every one of your hard-earned dollars count.
Get information about the Teamsters Canadian Pension Plan and other retirement related information