Based on delegate feedback and a survey of other pension plans, the CSS Pension Plan is making changes to its cost recovery fee structure in 2015.
Effective January 1, 2015, the cost recovery fees charged by the Plan will be as follows:
Investment instructions (allocating your pension funds to all or any of the Plan's four funds)
Two free per calendar year and $75 thereafter
One free lifetime and $100 thereafter
Variable benefit payment changes
One free per year and $50 thereafter
Marital split calculations
One free lifetime and $50 thereafter
$100 per hour
Many pension plans collect fees to recover administrative costs, such as those incurred when members request changes to their pension accounts.
In most cases, our new fee structure allows for a limited number of transactions before a fee is payable. However, whether a fee is payable should not influence your decisions about your pension savings.
Making changes to the allocation of your pension account (or to your VB payment amount) should be based on your personal financial circumstances, your risk tolerance and age. We encourage you to review our
Investment Choice booklet. We also encourage you to consult a qualified financial advisor.
When a fee is due, it will remain payable by cheque or money order.
If you have questions about this change, please contact the CSS Pension Plan by emailing
firstname.lastname@example.org or calling (306) 244-1539.
**You must no longer be working for any employer member of the Plan to withdraw/transfer any funds out.