Members enrolled in the DC Pension, and eligible for SUB benefits, are permitted to continue contributing to their account (4-5%), and the Company will then continue contributions (4-6%), while on layoff.
- Canada Life should be sending out information and forms to DC pension members, after they receive the list of members on lay off
- The option for DC pension members to contribute the additional monies is only available to members while in receipt of SUB benefit
- Any forms filled out must indicate that they become effective May 1st, 2022
- If you wish to continue the additional 1% contribution you must indicate by checking ‘yes’ in the box for the option on the form