At CSS Pension Plan, we are committed to helping our members understand their responsibilities and their critical role in managing their pension accounts.

Here is an outline of the key responsibilities of our members: 

Get to know your CSS Pension Plan 

As a member, it's essential to educate yourself about the CSS Pension Plan and familiarize yourself with its features, benefits and options. This knowledge will empower you to make informed decisions about your retirement savings. Take advantage of the information and services available to you: 

• The Plan booklet: This member booklet provides a clear and concise summary of the CSS Pension Plan's main features.

• It’s Your Plan webinar series: Attending these webinars and/or watching the recorded sessions throughout various career stages can help you make informed decisions about your financial future. 

Join the Plan and manage your account 

If you are an employee of a participating co-operative or credit union, you are likely eligible to join the CSS Pension Plan. Full-time employees must join the plan after completing their employer's waiting period, which cannot exceed two years. For less-than-full-time employees, membership is offered after meeting specific requirements, such as achieving a minimum level of earnings or working a minimum number of hours. For more detailed information, please visit our Joining the Plan page. 

Once you join, register and log in to myCSSPEN to view your personal pension information and access personalized pension tools. This platform allows you to check the value of your account(s), estimate your retirement income, rebalance your investments, update your contact information and more. For more detailed information, please visit our myCSSPEN information sheet. 

Make smart contribution and investment decisions 

Decide how much to contribute to your pension account and when to make these contributions. Your contribution decisions directly impact the growth of your retirement savings. You will have a regular required contribution that you must make into your pension account, which is matched by your employer. Additionally, you can make additional voluntary contributions to further build your retirement nest egg. For more detailed information, please visit our Contributing to the Plan page. 

Choose among the available investment options to invest your contributions and existing balances.

The CSS Pension Plan offers four investment funds: a Balanced Fund, an Equity Fund, a Bond Fund, and a Money Market Fund. Each fund has different levels of risk and expected returns.

When making investment decisions, consider factors such as your age, other assets, planned retirement date and comfort with risk. You can use the CSS Risk Tolerance Estimator to help you understand your risk tolerance level and which investor profile may suit you based on your time horizon and investment knowledge. For more detailed information, please visit our Investment Decisions page. 

Understand investment risks 

Recognize how the investment risks associated with your choices influence potential outcomes. Understanding these risks helps you make balanced investment decisions that align with your financial goals. For more detailed information, please visit the tabs “Risk and return” and “Market timing risk” on our Investment Decisions page. 

Stay informed and utilize resources 

Please take advantage of our educational resources, materials and decision-making tools. Our website is packed with helpful planning tools and resources to guide you on your journey towards retirement. The myCSSPEN Compass® Retirement Income Planner is a DIY tool that allows you to create a personalized retirement plan, visualize your financial future, and adjust to stay on track. Our Risk Tolerance Estimator helps you understand your comfort with investment risk and choose suitable investment options. For more information, please visit our Planning Tools page. 

Read and retain your annual statements, records and other communications CSS Pension Plan provides. Keeping these documents helps you stay informed about your account performance and any changes. 

Understand fees and seek guidance 

Be aware of the fees and expenses associated with your pension account. The CSS Pension Plan fee structure includes transaction fees for certain activities, such as reallocating pension funds or making withdrawals. Additionally, there are fees for investing, known as the management expense ratio (MER), which covers the costs of managing and operating the investment funds. For more detailed information, please visit our Fee Structure information sheet and the Quarterly Investment Reports. 

Inform yourself how participating in the CSS Pension Plan fits your broader financial context. This holistic view ensures that your pension account complements your overall financial planning. Obtain investment or financial planning advice from qualified advisors. Professional advice helps you make well-informed decisions, especially during life changes or when planning withdrawals. You may wish to meet with a CSS Retirement and Pension Advisor. 

Keep your information updated 

Ensure the accuracy of your personal and contact information and beneficiary designations on file with CSS Pension Plan. Accurate information ensures that communications are received, and benefits are correctly allocated. Complete our Member Information Change form or log in to myCSSPEN® to update your information. 

Plan for when employment ends and retirement 

Upon terminating active membership in the Plan and/or when retiring, select an appropriate option within the provided timeframe.  

Retirement is one of life's significant milestones, and planning for it involves considering various options supporting your retirement vision. Whether you decide to retire at age 50, 60, or 71 (or somewhere in between), it's essential to learn about your options and make decisions appropriate for your situation. For more detailed information, please visit our Retiring page.  

Additionally, if your employment is terminated, you may want to consider what to do with your funds. Depending on your preferences and the nature of your funds, you can leave them in the CSS Pension Plan or transfer them out. For more detailed information, please visit our Leaving Your Employment page. 

Thank you for making CSS Pension Plan part of your financial journey.  We are here to support you! 

By understanding and fulfilling these responsibilities, CSS Pension Plan members can effectively manage their accounts and work towards achieving their retirement goals. Our role in providing clear information and support is essential in helping members navigate their responsibilities and make informed decisions.