Life events

Leaving your employment

Termination options

If your employment is terminated – meaning you no longer work for a participating employer member of the CSS Pension Plan – you have a decision to make about the funds in your CSS account.

Once your employer lets us know you are done working, we'll send you a current CSS account statement along with a description of your termination options.​

You can choose from the options below.

If you are selecting this option, there are NO mandatory forms that you need to file with us. You will simply remain a CSS member and have full access to all the benefits that come with your membership:

Access your pension account information using myCSSPEN to:

  • Check your account balance and keep track of transfers-in and contributions
  • Estimate your retirement income and complete/track your own retirement plan
  • Rebalance your investments among CSS’ four investment funds
  • Update your contact information

Contact your CSS Retirement and Pension Advisor anytime to assist you with:

  • Making CSS investment fund decisions
  • Building a retirement plan
  • Making your CSS retirement income decisions
  • Any questions you have about your pension account

Use CSS’ communication and educational tools, such as:

  • Your annual statement that comes in February/March
  • Educational workshops (in-person, virtual and recorded)
  • Join email list to receive latest news and plan information
  • Visit CSS website regularly to keep up with CSS Pension Plan information

Grow your CSS pension account, such as:

  • Access to CSS’ professionally managed investment fund line-up, with low fees
  • Ability to transfer funds into your CSS pension account
    • Funds can come from registered retirement savings plans (RRSPs), registered retirement income funds (RRIFs), locked-in registered products, and other pension plans

Choose retirement income options that are available from the Plan (when you are age 50 or older):

  • A monthly pension: A fixed monthly payment for your lifetime, and your spouse’s lifetime if joint monthly pension is chosen.
  • Variable Benefit (VB) payments: A flexible monthly or annual payment from your CSS account.
    • VB payments are available to members whose pension funds are subject to ON, BC, AB, SK, MB, NS or Federal pension legislation.

Pension law governs what you can and can’t do with your funds in your pension account. Your funds are either locked-in or non-locked-in, and you may have both locked-in and non-locked in funds.


If you are selecting this option, please review the withdrawal and transfer instructions. If you are transferring your funds out, contact your credit union or financial institution to complete their required paperwork.


Your statement of your account will tell you if you have locked-in funds and non-locked-in funds:

  • Locked-in funds must be used for retirement purposes. These funds can be transferred only to another pension plan or to locked-in registered product.

  • Only non-locked-in funds can be withdrawn as cash or transferred directly to an RRSP/RRIF.

You can leave a portion of your funds in your CSS account AND you can transfer a portion out to your credit union or financial institution. In this case, please follow the above instructions for both options.

If your employment is terminated and you've reached your early retirement age, then you'll also have retirement income options available to you. 

You may qualify for early retirement when you reach age 50 or earlier if your age plus years of continuous service with one or more participating employers equals a factor of 75.

If your employment is terminated because of disability, injury or illness, you may be able to use your pension funds to provide a retirement income before you reach your early retirement age. See taking a leave​​ for more information about your options. ​

Transferring between employer members

A key benefit of being a CSS member is  taking your pension with you if you leave one CSS participating employer member for another.

This is considered a transfer between employers so we do not deem your employment terminated. You are still working for a Plan employer and therefore, you are still a Plan member.

Transferring between employer members is often seamless. Depending on the length of your break in service between your previous employer and your new employer, you may be able to skip the ​waiting period and continue contributing to the CSS Pension Plan immediately. Talk to us or your new ​employer ​to determine your eligibility.

 

Manitoba mandatory payouts

The Pension Benefits Act (Manitoba) requires that, at termination of membership, pension funds be paid out if the amount is less than a prescribed amount (20% of the yearly maximum pension earnings in the year of termination of membership). This requirement can apply to Manitoba CSS members under certain conditions.

When does this apply? 
Your pension funds will be subject to the Manitoba mandatory payout requirement if:

  1. Your pension funds are subject to Manitoba pension legislation.
  2. You have terminated your membership in the CSS Pension Plan.
  3. Your CSS Pension Plan account balance is less than the prescribed amount.

If you meet the criteria above, CSS must pay you your pension funds within 30 days from the day of termination (Manitoba pension law requires this).

We will send you a termination package, which sets out the mandatory payout requirement and informs you that the payment will be processed within 30 days. If you find yourself in this situation, you can submit transfer documentation to our office and we will transfer the funds to your RRSP – provided the deadlines are met.

These are the typical scenarios that will arise:

  1. No transfer paperwork submitted. If 30 days pass and CSS does not receive your transfer paperwork, we will issue a cash payment to you. Note: Cash payments are paid less withholding taxes.

  2. Transfer paperwork submitted before 30 days. If CSS receives paperwork to transfer your pension funds to an RRSP before the end of those 30 days, we will process the payment as a transfer to your RRSP account held with your credit union or financial institution (instead of as a cash payment).  

  3. Transfer paperwork submitted on or after 30 days. If the transfer paperwork arrives at or after the 30 days, CSS will process the payment as a cash payment to you. As this requirement is stipulated by pension law, CSS does not make exceptions.

We understand that some members may be concerned about receiving the cash payment of the Manitoba mandatory payout; however, we note that you may make your own RRSP contribution in a year. Doing so triggers an RRSP contribution receipt from your RRSP financial institution. 
 
To address administrative burdens and costs, and to ensure compliance with Manitoba pension rules, we do not reverse cash payments.