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Low Rise Termination Of Membership

What Benefits Will I be Entitled to if I Terminate My Membership Other Than by Death or Retirement?

You are deemed to have terminated your membership on the following dates:

  • the date on which you apply for withdrawal from the Low Rise Pension Plan. You cannot apply for a withdrawal until at least two years after the date the last contribution was made to the Plan on your behalf;
  • the date you cease to be a member of Local 46 (Low Rise), including a transfer to another division within the Union;
  • following six consecutive months during which no contributions are received on your behalf after your expulsion from Local 46;
  • you transfer your union membership to another local union or you become a member of another pension plan;
  • the date of your total and permanent disability; or
  • the date you receive an honourable withdrawal from Local 46.

On termination you will be entitled to the total accumulated value in your account. You have the following options for the value of your account:

  • leave it in the Low Rise Pension Plan to transfer it to a life income fund, or to purchase an annuity to commence, on or after age 55 but before age 71;
  • transfer it into a locked-in retirement account, which may not be utilized before age 55 and then only in the form of annuity allowed by the Low Rise Pension Plan or by way of a transfer to a life income fund;
  • transfer it to another pension plan if that plan permits; or
  • transfer it to a life insurance company to purchase an annuity of a type allowed by the Low Rise Pension Plan which must commence on or after age 55 but before age 71.

What if I Quit as a Member of Local 46 (Low Rise) and then Join Again?

You would be treated as a completely new member for the purpose of the Low Rise Pension Plan and your two periods of Low Rise Pension Plan membership would be treated separately.

May I Transfer Ownership of My Benefits Under the Low Rise Pension Plan to Anyone Else?

The assignment of any benefit under the Low Rise Pension Plan is not permitted except to your spouse under a domestic contract, separation agreement or court order in the case of marriage breakdown.

You are also not permitted to borrow against the value of your account in the Low Rise Pension Plan.


These statements will be issued to you two times a year, in February and August. The statement issued to you in August will cover the work months of January through to June, inclusive. Subsequent statements are issued on the same six months basis. The opening balances on the statement should be identical to the closing balances on your previous statement.

All hours received within the six months period are displayed in the body of the statement along with the employer’s name and work month. The hours are then changed to the equivalent dollars and displayed under each of the Health Benefits, S.U.B. and Pension sections of the statement.

Note: The closing balances in each account can be verified by taking your opening balance plus transactions during the period. Check your statement thoroughly. If you disagree with any of the information, write to the Benefits Office explaining the discrepancy.