Archives: 2024

Articles

UPDATE ON 2023 PENSION SURPLUS PAYOUT

Work is underway in order to distribute approximately $55-million, our share of the 2023 pension surplus. CBC officials have been meeting with representatives from the Office of the Superintendent of Financial Institutions (OSFI) in an attempt to make the approval and distribution process for the 2023 surplus and future payouts simpler and quicker.  Those meetings […]

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The PNA’s perseverance pays off: A success story

We all deserve to celebrate the arrival of our rightful share of the surplus in the CBC pension plan. After the champagne bottles are drained, and the confetti has settled, here’s something to think about: This is not a windfall that fell from the sky. And no CBC pensioner would be receiving a surplus cheque, […]

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Surplus Sharing Details Announced – June 28, 2024

We have been advised that the distribution of the $129 million dollars of pension surplus will be paid to pensioners and employees on July 30th. Pensioners will be able to access their “surplus statement” on July 8th on the Pension Administration Centre (PAC) website.  If you do not yet have an account established details of how […]

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Update on the Pension Plan surplus & PAC Information – June 26, 2024

What comes next In the coming weeks, a personalized surplus package will be posted on the Pension Administration Centre (PAC) website for retirees and survivors eligible for a surplus payment. This package will contain: Individualized information on the amount to be received and how this amount was determined. A Q&A document with more information about […]

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OSFI APPROVES PAYOUT OF $129 MILLION IN PENSION SURPLUS – June 19, 2024

The Office of the Superintendent of Financial Institutions (OSFI) has approved the payout of pension surplus to eligible members. This includes pensioners, surviving spouses, deferred pensioners and employees. Approximately $129 million, representing the surplus payout for 2021 and 2022, will be distributed to approximately 20,000 eligible members. Individual amounts will be based on a percentage […]

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