As an employer, you play a pivotal role in shaping your employees’ experience with their pension plan. Whether an employee is retiring soon or just starting to plan, you can support them by sharing tools and resources that can help build their confidence to prepare them as they approach retirement. Whether through personalized advice, educational webinars, or planning tools, your support can make a lasting impact.

1. Retirement income options 

Employees can choose which type of retirement income they’d like to set up through the CSS Pension Plan or through a provider of their choice, such as a financial institution or life insurance company. They have various retirement income options to consider, including: 

• CSS Variable Benefit (VB) payments 
  • allow access to CSS funds through regular withdrawals, either monthly or annually. 
  • the amount of the VB payment may change each year.
• CSS Monthly pensions 
  • offer you a fixed income for life.
  • two different types: joint or single life pension. 
• Options outside the Plan 
  
  • transfer locked-in pension funds to a locked-in product with your credit union or financial institution.
  • purchase a life annuity from a life insurance company.

We encourage employees to contact CSS and speak to our Advisory Team regarding any of your retirement income option questions. 

2. Resources 

Share these resources about retirement with your employees.

• Retiring section of our website – overview of the steps to retire 

• Ready to Retire booklet - detailed guide to understanding their options 

• The Plan booklet - a full overview of the CSS Pension Plan 
• Reaching retirement FAQ info sheet- commonly asked questions for members about planning for retirement. 

3. Tools

Share these planning tools to help your employees stay on track to reaching their retirement goals. 

• myCSSPEN Compass® Retirement Income Planner - this planner helps you to understand if you are on track toward achieving your retirement savings goals. It also provides actions that you may wish to consider if you are estimated to not be on track to reach your retirement income goals. 

• Pension Projection - Estimate your monthly pension, if you choose a guaranteed lifetime income at retirement. This calculator assumes that you will continue to make the same contribution amount to your pension account until you retire. 

• Variable Benefit Illustrator - Estimate the amount of your Variable Benefit payments, if you opt for monthly or annual withdrawals from your investment at retirement. This illustrator assumes that your pension contributions will continue until retirement. 

These planning tools are only accessible from your myCSSPEN account. To register visit members.csspen.com 

4. Retirement Income Options (RIO) webinar

Our RIO webinar is an online session to help members nearing retirement learn how to turn their CSS account into a reliable retirement income.  

Click here for dates and registration details. 

5. One-on-one CSS Advisor appointments

Let your employees know they can book a personalized session with a CSS Retirement and Pension Advisor who are CERTIFIED FINANCIAL PLANNER® professionals who can answer questions and help members build a retirement plan that fits their needs. 

Employees can book by emailing css@csspension.com or scanning the QR code below. 

More information

Retirement is a major milestone, and with your support and CSS’ we can make it a lot easier for your employees to reach. Whether it's pointing them to helpful CSS resources, encouraging them to use our planning tools, or connecting them with our CSS Advisors, you're empowering them to feel more confident about their future. 

For more tools and information to share, visit the Members – Retiring section of the CSS website.