Pension
A dignified retirement you can count on!
Alberta’s unionized Millwrights are proud of their pension plan! All contributions are employer-paid – there are no pension deductions from your paycheque.
It’s what’s called a defined benefit plan, meaning that you always have the security of knowing ahead of time what your retirement income will be, and that income will continue throughout your entire retirement.
Funds in the plan are managed by an employee-employer Board of Trustees.
Our new contract means that pension payments are now calculated based on how many hours you’ve earned, so when you work double time, your employer pays double the hourly contribution on your behalf. By 2009, that double contribution will be worth $13 per earned overtime hour!
Our Pension Plan's Board of Trustees will meet soon to discuss the implications for our fund and its beneficiaries of the new contract's 14% increase in employer contributions (to $5.75 per earned hour, and further to $6.50 in Nov, 2009).
Watch this space for details when our trustees have formally approved potential plan improvements!
Millwrights Local 1460 Pension Plan Members:
Plan Administrator.
Contact: 1-855-250-3534
Email: [email protected]
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