Your pension options at termination or retirement of plan membership

If you are not vested.

See what vesting means.

If you have been a Member of this Pension Plan for less than two years and your Plan membership terminated prior to July 1^st, 2012, your pension benefit is not vested.

You will be entitled to a lump sum cash payment of your own contribution plus investment earnings. If you wish, you may instead transfer this amount into:

• your Registered Retirement Savings Plan (RRSP),
• your Registered Retirement Income Fund (RRIF),
• your new employer’s Registered Pension Plan (RPP), if the transfer is acceptable by the new Pension Plan

If you are vested.

If you have been a member of this Pension Plan for more than two years, or if your Plan membership terminated on or after July 1^st, 2012, your pension benefit is vested and locked in. You may transfer your total account balance into:

• your Locked-in Registered Retirement Savings Plan or Locked-in Retirement Account (LIRA),
• your Life Income Fund (LIF),
• your new employer’s Registered Pension Plan (RPP), if the transfer is acceptable by the new Pension Plan

Depending on your age and your pension account balance, you may also be entitled to choose a lump sum cash payment of your locked-in (see what 'locked-in' means here) account balance in accordance with the Ontario Pension Benefits Act. The calculation to determine whether your pension benefit is locked-in is set by the provincial pension legislation.