The payout of the 2024 pension plan surplus will be made in November 2025. Approval for the payment was given yesterday by the Office of the Superintendent of Financial Institutions (OSFI). Regulations require the funds, approximately $60-million, to be held for 40 days from the date of approval. The specific date for depositing the funds into members’ accounts will be announced in the coming days.
The CBC Pension Plan continues to perform well and is in solid financial shape. We will provide more details when they become available.