The CCRL DB Plan was established on January 1, 1971. All member enrolments into the pension plan have been closed.

On January 1, 2023, the Co-operative Superannuation Society (CSS) proudly took on the administration and investment oversight of the CCRL plan.

This transition brings the story full circle: CSS was originally founded in 1939 by refinery Employees who believed in building a better future together. Today, that same spirit lives on – delivering trusted pension services through a non-profit model, with your best interests at heart.

Each pay period, part of your pay goes into the Pensions Fund to support your future retirement income. Your employer sets the contribution rate and also contributes to help keep the Pensions Fund fully supported. The Canada Revenue Agency limits how much you can contribute annually.

When you retire, the pension you receive is defined by a formula that considers your Highest Average Earnings (HAE) in any 36 months and your Pensionable Service (note: the formula is applied before any applicable early retirement reduction).

Pensionable Service refers to your completed months of continuous employment. If you work 15 days or more during the month, you earn Pensionable Service for that month.

While every member's situation may vary, should you decide to terminate your employment, please contact CSS at dbpensionadmin@csspension.com to discuss your options. 

You will then receive a personalized package outlining all the options available to you.

In most cases, you will have the following options available to you if you end your employment before age 55:

• Option 1: Transfer the Commuted Value to another registered pension plan, locked-in retirement account or insurance company that provides deferred annuities
• Option 2: Take a deferred annuity at normal retirement age
  
  

What does Commuted Value mean? In simple terms, it is the pension benefit amount that you are entitled to receive.

If you’re married or living with a common-law Spouse, your Spouse has some rights to your pension benefit – even if you designate someone else as your beneficiary.

In general terms, a portion of your Commuted Value may be divisible between you and your Spouse in the event of a relationship breakdown.

Please contact CSS for calculations for division purposes at
dbpensionadmin@csspension.com. 

Even while you’re on long-term disability, your future retirement will still grow.

A contribution equal to 12% of your earnings will be contributed to your pension by the company’s long-term disability plan – helping you stay on track for the retirement you’ve worked hard for.

While every member's situation may vary, should you decide to retire, please contact CSS at dbpensionadmin@csspension.com to discuss your options.

You will then receive a personalized package outlining all the payment options available to you.

If you happen to pass away prior to retirement with an eligible Spouse and you were eligible for retirement:

• Option 1: Your Spouse is entitled to a benefit from the CCRL Defined Benefit Pension Plan and options are sent to them.
• Option 2: Lump-sum payment equal to the Commuted Value
  • Cash payment - less withholding taxes
  • Transfer to Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF)
  • Purchase an annuity from an insurance company
  • Transfer to their Registered Pension Plan (RPP)

If you happen to pass away prior to retirement with an eligible Spouse and you were not eligible for retirement:

• Lump-sum payment equal to the Commuted Value
  
  • Cash payment - less withholding taxes
  • Transfer to Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF)
  • Purchase an annuity from an insurance company
  • Transfer to their Registered Pension Plan (RPP)

If you happen to pass away prior to retirement with no eligible Spouse: 

• Lump-sum payment equal to the Commuted Value taxable to the named beneficiary(ies) or your estate depending on who you have designated.
  
  

The retirement option you chose at the time of your retirement will determine what survivor benefits are available to your estate, beneficiaries and/or joint survivor (Spouse).

You can update your contact information by contacting CSS at dbpensionadmin@csspension.com or toll free at 1‐844‐427‐7736.

To change your beneficiary, please complete a Designation of Beneficiary form or contact dbpensionadmin@csspension.com to have a form mailed to you. It is your responsibility to ensure your beneficiary is kept up to date.

In general terms, a portion of your Commuted Value may be divisible between you and your Spouse (definition includes a common-law partner) in the event of a relationship breakdown.

Please contact CSS at dbpensionadmin@csspension.com or toll free at 1‐844‐427‐7736 to request a Division on Spousal Relationship Breakdown Commuted Value of Pension Benefits form. This form must be completed and provided to CSS prior to determining the calculation of your pension during the spousal relationship period.

If you are eligible for retirement within the next two years, you can request an estimate of your retirement benefits by contacting dbpensionadmin@csspension.com.

Please note you are eligible for one pension estimate per calendar year.

For a helpful snapshot of your retirement options, your most recent Annual Pension Statement includes a projection of your pension at your Normal Retirement Date, along with details about Early Retirement from Active Service.

You reach your Early Retirement Date on the first day of any month after you turn age 55. Your Normal Retirement Date is reached after you turn age 65.

The Earliest Unreduced Retirement Date is reached when you retire from active status on the first day of any month after you turn age 55, provided you have 30 years of continuous service, or on the first day of any month after you turn age 60, provided you have 10 years of continuous service.

Retiring early? Your CCRL DB Plan includes a Canada Pension Plan (CPP) Offset, which temporarily increases your pension until age 65, when you can receive an unreduced CPP benefit.

Yes. If you choose to keep working past age 65, you don’t have to start your pension right away. You can delay your pension payments to begin on the first day of any month after you turn 65.

Just remember: you must start receiving your pension by December 1 of the year you turn 71, at the latest.

The short answer is – it depends. The CCRL DB Plan uses a Highest Average Earnings formula to calculate pension benefit amounts. In most cases, your pension payment will be based on a percentage of your Highest Average Earnings in any 36 months multiplied by the number of years of any Pensionable Service.

If you are eligible for retirement within the next two years, you can request an estimate of your retirement benefits by contacting dbpensionadmin@csspension.com.

Your pension payment is indexed each year. Indexing helps maintain the value of your pension by adjusting it for inflation and increases in the cost of living.

The type of retirement benefit you’re entitled to depends on whether you have a Spouse. Single life options are available, providing a monthly benefit payable to you for life. Joint and survivor options are also available, providing you with a lifetime income and guarantee options for your Spouse.

You have both “normal form” and “optional form” pensions available to you.

Normal pensions

• Joint and Survivor Benefit: This retirement benefit is payable to you if you have a Spouse at the date of retirement. If you pass away before receiving 60 months of guaranteed pension payments, your monthly pension payments will continue to your Spouse until 60 payments have been made in total. Afterwards, your Spouse will receive 30% of the benefit amount until they pass away.
  
  
• Single Life Benefit: If you do not have a Spouse at the date of retirement, a single life benefit is payable to you. If you pass away before receiving 60 months of guaranteed pension payments, your monthly pension payments will continue to your designated beneficiary until 60 payments have been made in total.

Optional pensions

• Single Life Pension: A monthly benefit payable to you for life.
  
  
• Life Guaranteed 5, 10 or 15 Years: A monthly benefit payable to you for life. If you pass away before receiving payments for 5, 10 or 15 years (depending on your election), payments will continue to your designated beneficiary.
  
  
• Joint and Survivor: A monthly benefit payable to you for life. If you pass away, 50%, 75% or 100% (depending on your election) of the benefit payments will continue to your Spouse until your Spouse’s death.
  
  
• Joint and Survivor Guaranteed 5, 10 or 15 Years: A monthly benefit payable to you for life. If you pass away before receiving payments for 5, 10 or 15 years (depending on your election), payments will continue to your Spouse for the length of the guarantee period. After the guarantee period is reached, 50%, 60%, 75% or 100% (depending on your election) of the benefit payments will continue to your Spouse until your Spouse’s death.

All contributions you make to the CCRL DB Plan are tax deductible, in turn reducing your income-tax payable (the amount of income that can be taxed by government).

To help ensure a smooth transition, your retirement notice must be submitted to Human Resources or the CCRL DB Plan at least three months before your retirement date, with all retirements falling on the first of the following month. Please keep in mind: once your retirement notice is submitted, it’s final – it cannot be changed or withdrawn.

Please email your retirement notice to the CCRL DB Pension Plan at pensionplan@fcl.crs or to Human Resources at crc.hrconnect@fcl.crs. You may use the provided Retirement Notice form available on SharePoint or draft your own.

• Completing the required forms
• Details of my pension calculation and the data used

For questions or inquiries related to your retirement package, please contact CSS at dbpensionadmin@csspension.com or toll free at 1-844-427-7736.

To request a copy of your most recent Annual Pension Statement, please contact CSS at dbpensionadmin@csspension.com or toll free at 1-844-427-7736.

You can request an updated pension package by contacting CSS at dbpensionadmin@csspension.com or toll free at 1‐844‐427‐7736.

You can update your contact information by contacting CSS at dbpensionadmin@csspension.com or toll free at 1‐844‐427‐7736.

To change your beneficiary, please download and complete a Designation of Beneficiary form, or contact dbpensionadmin@csspension.com to have a form mailed to you for completion. It is your responsibility to ensure your beneficiary is kept up to date.

• My contact information (i.e., home address, email address or phone number)
• My banking information for my monthly pension payments
• The amount of tax being deducted from my monthly pension payments

Please contact CSS at dbpensionadmin@csspension.com or toll free at 1-844-427-7736 to update or change your contact information, banking details or tax deductions.

Please contact CSS at dbpensionadmin@csspension.com or toll free at 1‐844‐427‐7736 to notify of a pensioner, survivor or Spouse’s death.

To change your beneficiary, please complete the Designation of Beneficiary form.

Contact CSS at dbpensionadmin@csspension.com if you have questions. It is your responsibility to ensure your beneficiary is kept up to date.

Yes, your CCRL DB Plan pension payment is indexed each year. Indexing helps maintain the value of your pension by adjusting it for inflation and increases in the cost of living.

• Indexing
• Bridge (CPP Offset) end date
• Form of pension elected at my retirement date
• Guarantee period end date

For information on any of the above items, please contact CSS at dbpensionadmin@csspension.com or toll free at 1-844-427-7736.

Your T4A will be prepared by CSS and mailed to your address on file (deadline is the end of February each year).