Pension payments and dates
If you choose to receive a monthly pension payment, it will be deposited directly to your bank account.
Once your retirement application has been processed, you will receive a monthly pension if you are a member of the pension plan.
You might also receive a monthly pension from the plan if you are:
- The beneficiary of a plan member
- A limited member of the plan
You can receive your monthly pension payment in one of two ways:
- Direct deposit to Canadian and U.S. bank accounts
- Direct deposit to overseas accounts (via Western Union GlobalPay Payee Manager)
Pension payment dates
Your first pension payment will typically arrive on the last day of the month your pension is effective. After that, your pension payments will be deposited two banking days before the end of each month.
In 2020, we will deposit your monthly pension payment into your Canadian bank account on the dates listed below. For plan members living in the United States, your deposit date may vary from the scheduled date depending on U.S. bank processing requirements. If you live overseas and receive direct deposit through Western Union GlobalPay Payee Manager, you can receive your international pension payment within five business days of the Canadian pension payment date.
*The U.S. dollar exchange rate shown is used to calculate your pension payment if deposited in U.S. dollars into a U.S. account. If you are receiving direct deposit to a bank account outside of Canada and the United States, foreign currency exchange rates will be applied.