We’re often asked whether it might be better to retire now, before the new pension plan takes effect in 2027. Some believe that retiring early means the new rules won’t apply to them. That’s not the case. Everyone will be affected by the new rules, even those who are already retired. For example, you’ll have a choice between fixed and variable pension benefits. Variable benefits fluctuate with the economy, which means they can go up, but can also go down. Fixed benefits remain stable over time, but typically increase little or not at all.
Distribution of pension assets may affect your pension
When our pension fund transitions to the new pension rules, we will redistribute our assets. Exactly how this redistribution will take place has not yet been determined. The way the assets are allocated may affect your pension, and whether you are still working at that time could also play a role. At the moment, the exact method of asset distribution has not yet been determined. Once the details are confirmed, we will inform you. Be sure to check our website regularly to make sure you stay up-to-date with your new pension plan.
