Starting July 2020, all monthly pension payments will be sent electronically. To set up electronic payments, please follow the instructions at How to manage your banking information.

Pension payments and dates

If you have signed up for direct deposit, your monthly pension payment will be deposited into your bank account each month.


Once your retirement application has been processed, you will receive a monthly pension if you are a member of the pension plan.

You might also receive a monthly pension from the plan if you are:

  • The beneficiary of a plan member
  • A limited member of the plan

You can receive your monthly pension payment in one of two ways:

  • Direct deposit to Canadian and U.S. bank accounts
  • Direct deposit to overseas accounts (via Western Union GlobalPay Payee Manager)

Pension payment dates

Your first pension payment will typically arrive on the last day of the month your pension is effective. After that, your pension payments will be deposited two banking days before the end of each month.

In 2020, we will deposit your monthly pension payment into your Canadian bank account on the dates listed below. For plan members living in the United States, your deposit date may vary from the scheduled date depending on U.S. bank processing requirements. If you live overseas and receive direct deposit through Western Union GlobalPay Payee Manager, you can receive your international pension payment within five business days of the Canadian pension payment date.


2020 payment
dates
CAD to USD
exchange rate

January 30

1.33860

February 27

1.34920

March 30

1.46440

April 29

1.43110

May 28

1.42020

June 29

1.37730

July 30

1.36200

August 28

1.34500

September 29

 

October 29

 

November 27

 

December 23

 

*The U.S. dollar exchange rate shown is used to calculate your pension payment if deposited in U.S. dollars into a U.S. account. If you are receiving direct deposit to a bank account outside of Canada and the United States, foreign currency exchange rates will be applied.


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