Leave and termination of employment
Leave and termination of employment
During a Leave
The employee may choose whether or not to continue paying their contribution during a leave. If they choose to contribute, the organization must pay the employer contribution during certain types of leave, including:
• Occupational illness or work-related accident (maximum 24 months);
• Illness (maximum 26 weeks within a 12-month period);
• Maternity leave (max. 18 weeks) or paternity leave (max. 5 weeks);
• Parental leave (maximum 52 weeks. Extension possible if the child’s health condition requires it);
• Absence when the employee’s presence is required to care for a close relative due to a serious illness (max. 12 weeks, or 104 weeks if the employee’s minor child has a serious, potentially life-threatening illness);
• Being a candidate or an elected official at the municipal, provincial, or federal level (according to applicable laws).
The employee may continue contributing by paying both the employee and employer contributions:
• During an unpaid leave (maximum 6 months);
• During a temporary layoff. Each group may agree with its employees on more generous provisions regarding contribution amounts or duration, subject to applicable laws and approval by the pension committee (see Appendix 4 of the Plan Text for concrete examples).
Note: When the employee contribution rate is 0, the employer is required to continue contributing during a leave.
• Occupational illness or work-related accident (maximum 24 months);
• Illness (maximum 26 weeks within a 12-month period);
• Maternity leave (max. 18 weeks) or paternity leave (max. 5 weeks);
• Parental leave (maximum 52 weeks. Extension possible if the child’s health condition requires it);
• Absence when the employee’s presence is required to care for a close relative due to a serious illness (max. 12 weeks, or 104 weeks if the employee’s minor child has a serious, potentially life-threatening illness);
• Being a candidate or an elected official at the municipal, provincial, or federal level (according to applicable laws).
The employee may continue contributing by paying both the employee and employer contributions:
• During an unpaid leave (maximum 6 months);
• During a temporary layoff. Each group may agree with its employees on more generous provisions regarding contribution amounts or duration, subject to applicable laws and approval by the pension committee (see Appendix 4 of the Plan Text for concrete examples).
Note: When the employee contribution rate is 0, the employer is required to continue contributing during a leave.
Upon Termination
When an employment termination occurs, the employer must confirm the termination date to us. This can be done by a simple email confirming the person’s name and their last day of employment (the date on which the employment relationship ends). It can also be done through the report on monthly remittances to the Plan, which must be submitted no later than the 20th day of the month following the employee’s last day of work.
Once this information is received, we will send a termination form (by mail or through the secure personal portal, depending on the person’s preference).
The participant will then have two options:
Once this information is received, we will send a termination form (by mail or through the secure personal portal, depending on the person’s preference).
The participant will then have two options:
1.
Keep their rights in the Plan. They remain a member, and the pension earned remains guaranteed.
2.
Request their statement of benefits because they are considering requesting a transfer.
This statement, prepared by our actuary, will detail the value accumulated in the Plan as of that date. The possible refund options (LIRA, RRSP, cheque, annuity) will depend on the amount of the value, the person’s age, and the applicable tax rules. Producing this statement may take up to two months, and it is based on this document that the individual will be able to request a refund or a transfer.
At this stage, it is always possible to choose to leave one’s rights in the Plan and keep the pension earned.
It is very important that the contact information we have on file is accurate and up to date.
At this stage, it is always possible to choose to leave one’s rights in the Plan and keep the pension earned.
It is very important that the contact information we have on file is accurate and up to date.
The advantages of leaving your rights in the Plan
• Keep the pension you have earned and benefit from indexation;
• For a period of two years, buy back past service to increase your pension or transfer RRSPs as voluntary contributions;
• Contribute from the moment of hiring when employed by another employer who is a member of the Plan, regardless of employment status;
• Receive the annual statement, be invited to annual meetings, and participate in Plan training sessions;
• Have no personal management to handle and pay no management fees.
• For a period of two years, buy back past service to increase your pension or transfer RRSPs as voluntary contributions;
• Contribute from the moment of hiring when employed by another employer who is a member of the Plan, regardless of employment status;
• Receive the annual statement, be invited to annual meetings, and participate in Plan training sessions;
• Have no personal management to handle and pay no management fees.
In the Event of Death or Separation
It is important to keep your file up to date regarding your spouse and beneficiaries. These details can be modified at any time through the secure personal portal. In the case of divorce, please note that the Plan is subject to the Family Property Act.
In the Event of Death If death occurs before retirement, a one-time payment is made to the spouse or designated beneficiary. To determine the amount to be paid, actuaries use the same calculation as for a termination before retirement age.
If death occurs after retirement, the Plan pays an amount based on the choice made by the retiree before retirement: a guarantee for the designated beneficiary or beneficiaries, or a survivorship option for a spouse. The retiree must choose from one of these five options:
A. 5-year guarantee (normal form)
B. 10-year guarantee
C. 60% survivorship
D. 5-year guarantee and 60% survivorship
E. 10-year guarantee and 60% survivorship
In the Event of Death If death occurs before retirement, a one-time payment is made to the spouse or designated beneficiary. To determine the amount to be paid, actuaries use the same calculation as for a termination before retirement age.
If death occurs after retirement, the Plan pays an amount based on the choice made by the retiree before retirement: a guarantee for the designated beneficiary or beneficiaries, or a survivorship option for a spouse. The retiree must choose from one of these five options:
A. 5-year guarantee (normal form)
B. 10-year guarantee
C. 60% survivorship
D. 5-year guarantee and 60% survivorship
E. 10-year guarantee and 60% survivorship
Do you have questions about our Plan?
Do you have questions about your retirement? We are here to help you answer them clearly and precisely.
