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Manitoba Labour and Immigration

Pension Commission

Disclosure

Revised August 2004

The main objective of the Pension Benefits Act is to safeguard employees' rights to benefits promised under private pension plans. Over the years, the rights of employees to obtain information have increased. There is now more protection for the spouse or common-law partner of a contributing member. In addition, employees who leave their jobs now have new options regarding transfers of their pension credits.

Your right to information regarding your pension plan has been greatly increased.

Who is entitled to receive information about the plan?

If you are;

  1. an active member (currently earning benefits in a pension plan),
  2. the spouse, common-law partner or authorized agent, or
  3. a member who has terminated employment, but left his or her pension benefits in the plan.

you are entitled to receive specific information about the pension plan.

When will I receive up-to-date financial information regarding my plan?

Each year and within six months after the end of the plan year, your employer must provide each active member (and spouse or common-law partner, if requested) with a financial statement containing such information as;

  1. Credited years of service,
  2. Employee and employer contributions made during the year, or the pension benefit earned during the year,
  3. Interest credited to the employee's account,
  4. Retirement date (normal and early retirement),
  5. Reduction of pension benefits upon early retirement,
  6. And other information as required by legislation.
If I die before retirement, will my spouse or common-law partner receive financial information about my plan?

Yes. Your employer must provide your spouse or common-law partner (or authorized agent) with a financial statement within 30 days after proper notification of death. Such a statement will contain the pension benefit you would have become entitled to and any options available to your spouse or partner regarding payment of survivor benefits.

Do I receive information upon termination?

Yes, every employee who terminates membership in the employer's pension plan must receive a financial statement within 60 days of notification concerning termination. For more information refer to the Employment Termination brochure.

Do I receive information upon retirement?

Yes, retiring plan members must receive a statement prior to commencement of the pension.

What information is an employer required to provide for eligible employees and members?

Employers must provide eligible employees and members of a plan with a written explanation of the terms and conditions of the pension plan. This is usually accomplished through an employee booklet. Aside from the actual plan provisions, the booklet should contain this additional information:

  1. The joint and two-thirds survivor pension requirement, and mention of the Pension Waiver provision,
  2. Reference to the equal splitting of pension credits in the event of the Breakup of the Marriage or Common-law Relationship,
  3. The automatic payment of death benefits to a surviving spouse or common-law partner,
  4. A reference to individual employee statements that must be provided to plan members,
  5. Vesting and lock-in provisions,
  6. The definition of common-law partner.
How will I find out if my plan has changed?

All members must be advised in writing about any amendments made to the plan 180 days after the effective date of an amendment or 90 days after approval by the Pension Commission.

What kind of information may I request?

Once per year any member may request copies of such documents as:

  1. The text of the pension plan,
  2. Information on how the plan and its funds are administered,
  3. The most recent cost certificate,
  4. Extracts from the most recent actuarial report, and
  5. A copy of the most recent annual financial statement
Where do I obtain information?

You must apply to the employer in writing who in turn must provide you with the information requested within 30 days. You may be charged a reasonable fee to cover the administrative costs involved (ie. photocopies, compilation, etc.).