If you are working with a new employer whose pension plan has a transfer contract with BC`s municipal pension plan, you can transfer your service to the new plan. There are delays for the transfer of the service. Talk to your new employer to find out if you are in law and find out about these delays and what they mean. The termination selection statement contains options on what you can do with your pension. It is usually reported on how you can transfer the value of your pension to your financial institution, or what the pension would look like if you keep it in your plan. Remember that each scenario is different, so there is no “set list” of options for everyone. What may be an option for you may not be an option for someone else. Currently, the federal government has pension transfer contracts with more than 90 other pension plans in Canada, and others are being negotiated. Transfering Service from Other Pension Plans More than 600 BC Employers are part of municipal pension plans, including municipalities, school districts, universities, public health, police and fire.
If you are considering a change from an employer currently participating in the MPP in the City of Richmond and are currently an active member of the plan, your affiliation with the retirement plan will continue. Transfer contracts (also known as mutual transfer agreements) allow pension plan members to support pension rights from one plan to another. The MPP has transfer contracts with a number of retirement plans across Canada. There is no agreement with plans outside of Canada. Visit www.pensionsbc.ca for more information on transfer contracts. If you are no longer employed by an employer and are participating in one of your current employer`s retirees, you may be able to transfer your pension credit to your new pension plan. A PTA is a method to make this transfer. In order to participate in such an agreement, a PEZ must have been signed between the Canadian government and an external employer.
The agreements are negotiated on behalf of the Canadian government through the Policy and Advisory Services Division of the Government of Canada Pension Centre. After 90 days, as long as you have not restarted the contributions with us or with another employer, MPP will send you a declaration of selection of the termination. In Canada, public health insurance is available for eligible residents. Canadian citizens and permanent residents can apply for provincial health insurance. In B.C. public health insurance is called the Medical Services Plan, or MSP. It covers the cost of insured medical care. A member who is a firefighter is entitled to an immediate pension if he or she: Great-West Life (GWL) registration form First registration form. HR will e-mail it to you as soon as you are entitled to the benefits. Any employer wishing to enter into negotiations should contact the pension centre`s political and advisory department in writing and confirm that: Great-West Life (GWL) Group Coverage Change Form To Update/Change any Great-West Life Information (for example. B to change address, add or remove a dependent person, update your beneficiary) create this form and forward it to HR.
Depending on the retirement option you chose when you retired, the plan may continue to pay: `A pension to your spouse (if you have one) for your life – Retirement benefits to another beneficiary (s) – A lump sum payment to your estate or organization, The health expense form (to be sent with receipts) you are your beneficiary: life insurance, accidental death and dismemberment (AD-D), short-term disability benefits (STD) and long-term disability benefits (LTD).