While you’re a participant, you’re earning both service credits and vesting credits.
- Service Credits
- Future Service Pension Credits. You earn one “future service pension credit” if you work at least 1,800 hours in a calendar year. The total number of pension credits you’ve accumulated when you are eligible to receive your pension are used to determine the amount of your monthly benefit.
- Past Service Pension Credits. You may be eligible to include service for the time you spent working before your employer joined the Plan. These are called “past service pension credits.”
- Disability Credits. You may be eligible to earn disability credits if you are receiving long-term disability benefits from an employer-sponsored plan. Refer to your Summary Plan Description for more information.
- Extra Service Credits. You may be eligible to earn extra service credits if credit for a given period would bring you up to 15 years of service credits, 10 years of current service or 10 years of vesting credit.
- Vesting credits
|EMPLOYMENT PERIOD||VESTING RULE|
If you are subject to the pension laws of Provinces other than Saskatchewan, Quebec and Manitoba AND you terminate service after January 1, 1986
You are vested after accumulating three years of current or vesting Service; or 15 years of service credit with at least one year of current service; or 24 months of continuous plan participation.
If you are subject to the pension laws of Saskatchewan AND you terminate service:
On or after January 1, 1994
On or after July 1, 1981 but before January 1, 1994
You are vested:
After accumulating 24 months of continuous service;
After one year of continuous service, when age plus years of continuous service equal at least 45.
If you are subject to the pension laws of Manitoba AND terminate on or after January 1, 1985
You are vested after accumulating 24 months of continuous service or 24 months of plan participation, whichever occurs first.
Unless otherwise specified above, for terminations after January 1, 1976, but before January 1, 1986
You are vested after accumulating 10 years of current or vesting Service; or 15 years of service credit with at least one year of current service.
For terminations after October 1, 1964 but prior to January 1, 1976
You are vested after accumulating 15 years of service credit.
If you stop working for a period of time, you may incur a “break-in-service.” Once you again meet the requirements of becoming a participant in the plan, your contributing employer is required to continue to make contributions to the Fund on your behalf.