I.A.M. Multi-Employer Pension Plan (Canada)

Summary

Plan Description

Understanding your pension benefits is important. The information below provides an overview of the I.A.M. Multi-Employer Pension Plan (Canada). For complete details, please download and review the full Summary Plan Description.

Fund Office Contact Information

Address

116 Lisgar Street, Suite 304 Ottawa, Ontario K2P 0C2

Telephone

1-888-354-5444

admin@iammepp.ca

Website

www.iammepp.ca

Who Can Participate?

You may participate in the Plan if:

Your employer has a collective agreement requiring contributions to the Fund, or
Your employer has an agreement with the Trustees to contribute on your behalf.

Participation begins once contributions are first required to be made on your behalf.

Types of Pension Benefits

The Plan provides three types of pensions:

Normal Pension

Available at age 65.
Pension amount is based on contributions made on your behalf.

Early Retirement Pension
Available from age 55.
Benefits are reduced by 0.5% for each month before age 65.

Deferred Pension

Available if you leave covered employment before retirement.
Usually begins at age 65.
Can start earlier with applicable reductions.

How Is Your Pension Calculated?

Your pension is based on:

Contributions made by your employer,
Employee contributions (if applicable), and
The benefit accrual rate assigned to your employer group.

Example

If total contributions equal $50,000, and your accrual rate is 0.75%:

0.75% × $50,000 = $375 per month

at normal retirement age.

Survivor and Death Benefits

If You Have a Spouse

Your spouse is generally entitled to survivor benefits under the Plan.

If You Do Not Have a Spouse

Death benefits may be paid to your named beneficiary or estate.

Members are encouraged to keep beneficiary information up to date.

Portability Options

If you terminate participation before retirement, you may be eligible to transfer the commuted value of your pension to:

A Locked-In RRSP,
A Locked-In Retirement Account (LIRA),
Another pension plan that accepts transfers, or
A financial institution to purchase an annuity.

Applying for Your Pension

Applications should be submitted:

In writing,
At least one month before retirement.

Proof of age, marital status, and other supporting documentation may be required.

Important Information

Pension benefits are taxable.
Pension benefits generally cannot be assigned or used as security.
Divorce or separation may affect pension entitlements.
Terminal illness provisions may allow a lump-sum payment under certain conditions.
Members should promptly notify the Fund Office of address or marital status changes.

Need More Information?

For questions regarding your pension benefits, contact the Fund Office directly: