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​​Notification of Plan rule changes

Over the past few years new pension legislation has been enacted in British Columbia, Alberta, Manitoba, Ontario and federally.

New provisions in these Acts required the CSS Pension Plan to make the following changes to our Rules and Regulations:

  • Employer contributions now vest immediately. This means that they belong to you as soon as they are added to your pension account. However, it also means that in all provinces but Saskatchewan, they also become locked-in immediately (locked-in funds must be used to provide retirement income).
  • In Alberta and Manitoba, certain calculations allowing up to 25% of historical balances to be treated as non-locked-in funds are no longer permitted.
  • The Plan’s effective date (April 12, 1943) was added.
  • A provision was added requiring contributions to cease when an employer withdraws from the Plan.
  • ​The provisions of pension legislation permitting the commutation (unlocking) of locked-in pension funds in special circumstances (small balances, terminal illness, leaving Canada) and permitting unlocking elections at retirement were added.
  • ​Provisions were added confirming the obligation of CSS employers to obtain and distribute the information communications and statements necessary to administer the Plan in the workplace.
  • The definitions of “spouse” and provisions relating to part-time eligibility and fund lock-in set out in the footnotes of the Rules were updated to correspond with current legislation.
  • ​Various editorial changes were made to improve the clarity and readability of the Rules.
The changes were approved by our regulator on December 14 and must be brought to the attention of members within 90 days.

You are encouraged to review the revised Rules in full at your convenience.

If you have any questions about the changes that were made, or about the Plan in general, we would be pleased to assist you.