Membership

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What is included in my DC pension package?

Your DC pension package is sent to you by mail along with your Total Compensation letter. It contains your Canada Post Defined Contribution (DC) Pension enrolment form. This form must be filled out, signed and returned to Canada Post at the address indicated at the top of the form.

Your DC pension package also contains the following documents to help you complete the form:

  • Welcome Letter
  • DC enrolment form
  • Defined Contribution (DC) and Voluntary Savings Plan (VSP) Investment Guide
  • DC information booklet
  • VSP information booklet

I've received my DC pension package. Is there any action I need to take now?

  • Complete the enrolment form - Review your responsibilities, fill out the enrolment form and designate your beneficiaries.
  • Contribute - Choose how much you want to contribute and benefit from Canada Post's matching contributions. Maximize your contributions to grow your savings faster.
  • Invest - select the investment options that best meet your needs.
  • Send your completed form to the address provided at the top of the form.
  • Keep a copy of your form for your file.

Do I have to enrol in the Plan?

You are automatically a member of the DC pension the day you become eligible to join the Plan. You must complete the Canada Post Defined Contribution (DC) Pension enrolment form, even if you choose not to contribute.

What happens if I do not complete the enrolment form?

If you do not complete the Canada Post Defined Contribution (DC) Pension enrolment form

  • you will be enrolled automatically in the DC Pension Plan and your contributions will be deducted bi-weekly from your pay at a rate of 4% of your pensionable earnings,
  • you will benefit immediately from Canada Post's matching contributions,
  • funds will be placed on your behalf in the Target Date default fund closest to (without exceeding) your 65th birthday,
  • you will have no designated beneficiary for your pension funds, and

This may not meet your personal retirement goals or estate planning needs.

When will my contributions to the Plan begin?

Your contributions and Canada Post's will begin on the first day you are eligible to join the DC pension. See Contributions for more information.

What do I need to do after enrolling?

  • Monitor and track your investments regularly, at least one a year, to make sure they are meeting your retirement goals.
  • Adjust your selections as your investment-risk profile changes.
  • Update your personal information, including address and beneficiaries, as necessary.