Please click one one of the links below to navigate to the appropraite group of questions.
Can I get a copy of my pension statement?
What pension benefit am I eligible for?
How do I complete my forms?
Can I get an estimate of my pension benefit if I were to retire, terminate or die?
How do I apply for a retirement/termination benefit?
How do I change my Pension Plan beneficiary designation?
Can I take some of my pension benefit out?
Is my pension benefit payable as cash?
How long do I have to wait for my first monthly pension payment to arrive?
Ques: Can I get a copy of my pension statement?
Ans: Yes contact your local BPA office and speak to your Pension plan administrator to verify the accuracy of the address on file.
Ques: What pension benefit am I eligible for?
Ans: As each member’s pension plan is different you will have to contact your Pension plan administrator in your local BPA office who can explain your particular pension plan to you.
Ques: How do I complete my forms?
Ans: For the most part forms are standard, however, each Pension Plan will have information required that is specific to that plan. For this reason, we suggest that if you have any questions that it would be best to contact your Pension plan administrator in your local BPA office if you have any questions regarding the completion of any pension forms.
Ques: Can I get an estimate of my pension benefit if I were to retire, terminate or die?
Ans: Yes however you must contact the Pension plan administrator for an estimate to be forwarded to you. Some Members require approval from the Business Manager prior to an estimate being completed. Also, please be aware that BPA may not be able to provide you an estimate until you are within a couple months from retirement as there are Government mandated interest rates that are set only 2 months ahead of time.
Ques: How do I apply for a retirement/termination benefit?
Ans: You should contact the Pension plan administrator in your local BPA office for an application for benefits form to be sent to you. Once completed by yourself, and the Union, return the information to your Pension plan administrator and a formal retirement/termination package will be mailed to you.
Ques: How do I change my Pension Plan beneficiary designation?
Ans: You must contact the Pension plan administrator in your local BPA office for details on changing a pension plan beneficiary. Pension regulations are very stringent with respect to pension beneficiary designations.
Ques: Can I take some of my pension benefit out?
Ans: No. Pension benefits are only paid upon retirement, termination or death. There are vesting and locking in rules that are also applicable. If you wish to understand these rules further, you may contact your Pension plan administrator in your local BPA office for further information.
Ques: Is my pension benefit payable as cash?
Ans: No. If you are fully vested in the pension plan you will only be able to transfer a lump sum locked-in as per pension regulation guidelines. However, in some cases if the pension accrued is small, in accordance with guidelines set up by pension regulations, you may have a lump sum payout.
Ques: How long do I have to wait for my first monthly pension payment to arrive?
Ans: Pension payments are made through the Pension Plan Custodian. Once all paperwork has been properly completed and instructions forwarded onto the Pension Plan Custodian you should normally receive your first pension payment within approximately two to four weeks.