Understand your retired member pension statement
As a retired member of the plan, you will receive a statement in January each year showing the most current information about your pension.
The pension statement includes information about your:
- Gross monthly pension
- Monthly pension payment
- Group benefit coverage
- Tax credits and exemptions
- Income-splitting opportunities
Gross monthly pension
This section shows the:
- Pension option you chose at retirement and, if applicable, outlines how your pension benefit will be distributed to your beneficiary or beneficiaries when you die
- Total cost-of-living adjustments added to your pension
- Value of your bridge benefit, if applicable, and any cost-of-living adjustments added to it
Monthly pension payment
This section shows the deductions from your gross monthly pension payment, such as income tax and dental plan premiums.
Tax credits and exemptions
This section shows the federal and provincial tax credits and exemptions that you qualify for. If you qualify for additional tax credits not shown on this statement, you must send us an updated federal and/or provincial TD1 form so we can make any required changes. You can download TD1 forms on the Government of Canada website.
You may be able to transfer part of your pension income to your spouse or common-law partner. This section summarizes income-splitting opportunities.