March 12, 2013
AC Aéronet Pension Projector
The IAM & AW Air Canada Pension Committees have been informed by the Air Canada Pension Department that the new actuarial reductions for all terminations and retirements on or after January 1, 2014 have now been programmed into the AC Aéronet online Pension Projector.
The new early retirement actuarial reduction from age 65 applies for all terminations and retirements from the IAM & AW pension plan prior to attaining both age 55 and 80 points of age + qualifying service. It replaces the two existing early retirement reductions from age 55 and 80 points.
Air Canada has completed their online testing and effective immediately, the Pension Projector will now display accurate dollar values for all requested termination and retirement dates. For dates up to and including December 1, 2013 it will use the current reduction rules and for dates after January 1, 2014 it will now use the new actuarial reduction from age 65 as applicable.
If you are not familiar with the Pension Projector please refer to the LL764 February Pension Report for a more detailed explanation of how to access and run the Aéronet Pension Projector. The report is available on the Local 2323 website www.iamaw2323.ca under the Committees/Pension drop-down on the homepage.
There are still some members who cannot access their pension information on the Aéronet. Air Canada Pensions advises that all members should have access by the end of April. If you do not have access to your pension information or the Projector by the end of April, or if you are planning on terminating or retiring in the next few months and cannot get access, please contact
Aon Hewitt at 1-855-855-0785, Selection #2 – Pensions
Once notified, Hewitt will be able to investigate the reason that you do not have access to your pension information on the Aéronet Portal to correct the problem and they can also send you a hard copy of the information and dollar values for your requested date(s).
Respectfully,
Steve O’Hara
President Local 2323
