Q: When can I retire and what monthly options are available?

The normal retirement age under the TCPP is age 65, and you can retire as early as age 55 with a reduced pension. If you are actively employed by a participating employer of the TCPP, you will receive an annual pension statement which will outline the date you are eligible to retire with or without a reduction. 

The options available to you may vary by division and can provide more or less protection to your spouse/beneficiary and result in differing pension amounts. The value of your pension (i.e. the present value of future payments) is the same under all options. Please contact your Divisional administrator for details.

Q: I want to retire, what do I have to do to receive my TCPP pension?

You must contact the Divisional administrator at least 60 days prior to your intended retirement date who will provide you with an application form for retirement. The completed paperwork along with any additional required documentation must be submitted to the Plan Administrator prior to the commencement of your pension benefit.

Q: Can I take my pension as a lump sum?

If you are younger than age 55 when you leave employment, you have the option to transfer the commuted value of your pension.

If you are over age 55 and qualify for a small pension under applicable pension legislation, you have the option to receive the commuted value of your pension either as a cash lump sum or a transfer from the Plan.

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