Your Personalized Pension Statement guide

Your Personalized Pension Statement provides valuable information about your pension benefits under the Defined Benefit (DB) component of the Plan. It includes the pension benefits that you have accumulated under the Plan as at December 31 of the previous calendar year. As a DB member you receive a statement each year in April.

This guide and an FAQ are designed to help you better understand Your Personalized Pension Statement.

Plan terms and definitions

Terms that appear in bold grey the first time they are used in the statement are defined on the inside of the back cover of the statement. Visit the glossary for more definitions.

About this statement

The personal and Plan information used to prepare your statement is outlined in this section. A list of assumptions used in calculating your pensionable earnings and service is also included.

Canada Post makes every effort to maintain accurate and up-to-date records. You should review your statement information each year to ensure your pension records are correct. Notify the Pension Centre of any incorrect or missing information.

Your accrued pension

This section outlines your monthly unreduced pension benefits and the date at which they would become payable if you had terminated your employment on December 31 of the previous calendar year.

Your projected pension

This section shows the earliest date at which you may retire with an unreduced pension if you continue working at Canada Post and includes an estimate of your projected monthly pension benefits. Also included is the date on which you are entitled to receive a reduced monthly pension benefit.

Calculation assumptions for your projected pension

The assumptions listed in your statement were used to calculate your projected pension estimate. These assumptions are based on your individual circumstances and are subject to change. Any changes to your pensionable earnings or personal situation will be reflected in future statements. Use the Pension Plan calculator to obtain a pension estimate using your own assumptions and projected retirement date.

Your highest average earnings

This chart illustrates the pensionable earnings used in your highest average earnings calculation. Your highest average earnings are used in the calculation of your accrued pension as well as your projected pension estimate.

Termination benefit

This portion of your statement outlines the benefits you would have received if you had terminated employment with Canada Post on December 31 of the previous calendar year.

Plan notices

An overview of the year's events including any Plan amendments made during the previous calendar year is detailed in this part of your statement. Plan registration and the financial status of the Plan are also described.

Plan highlights

This section summarizes key features of the Plan such as the contributions, pension formula, and survivor benefits.