Membership
If I was a member of the Defined Benefit (DB) component, and moved to the DC component, what happens to my DB pension?
The funds accumulated in your DB pension will stay in the DB component; however, your DB service will be used to calculate your years of continuous service for the DC matching contribution formula.
Can I transfer the funds accumulated in my Canada Post DB pension into my DC pension?
No, the funds accumulated in your DB pension will stay in the DB component; however, your DB service will be used to calculate your years of continuous service for the DC matching contribution formula.
Can I transfer pension funds from my previous employer into my DC pension?
Pension funds from previous employment cannot be transferred into the DC pension. However, you may transfer the funds into the VSP. If your funds are in a locked-in RRSP they must be transferred as locked-in funds. If they are in a non-locked-in RRSP they may be transferred as not locked-in.
Call the Canada Life Call Centre at 1-866-716-1313, between 8 a.m. and 8 p.m. ET, to find out more.