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 or May.
This guide and an FAQ are designed to help you better understand Your Personalized Pension Statement.
Plan terms and definitions
To learn more about a specific term or concept that you find on your statement, you can visit the glossary.
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. Access the Canada Post Retirement Portal 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.