Pension Plan FAQ

In addition to this FAQ, there are several resources available: 

• My Pension section of CORE 
• CFMWS Pension Portal where you can view your pension accrual and personal details used in the calculation of your pension 
• The Pension Booklet provides a summarized review of Plan provisions and provides examples 
• The annual pension statement provides a snapshot of your benefit accrual at the last year end 
• Your local HR office is available for general inquiries 
• Aon, our pension administrator, is available for more specific inquiries. You can contact Aon at 1-844-203-2693 

Aon is the third-party pension administrator for your Pension Plan. Some of the many tasks they handle include:  

• the preparation of your annual pension statement; 
• the calculation of your termination/retirement benefit;  
• keeping record of your pension beneficiary; 
• hosting the CFMWS Pension Portal; and 
• answering member questions about the Plan.  

They can be reached by phone toll free at 1-844-203-2693 or visit the CFMWS Pension Portal to view your pension information or access various pension resources.

If you retired or terminated employment prior to July 8, 2019, the 2016 booklet applies. If you retired or terminated employment on or after July 8, 2019, or are currently an active employee, the 2024 booklet applies.

The annual pension statements are prepared and mailed by Aon no later than June for the prior calendar year. In example, a statement detailing your pension accrual to the end of the year 2024 will be mailed by June 2025.  
If you no longer have a copy of a prior year's statement, you can locate historical annual statements, dating back to 2023, on the CFMWS Pension Portal.

The solvency ratio represents the ratio of available Pension Plan assets over the termination liabilities. This means that if the Pension Plan had been terminated on the valuation date, the assets would have been sufficient to pay that percentage of accrued benefits.

With a defined benefit pension plan, your accrued pension benefits are protected against market fluctuations and other economic factors. The Plan is designed to provide a secure and guaranteed benefit upon retirement. 

CFMWS continues to manage the NPF Pension Plan in accordance with required legislation and with long-term sustainability and pension benefit security as top priorities.

Your mailing address must always be kept current to ensure you receive important information on your pension entitlements. 

• If you are a current CFMWS employee, contact your local HR office or use HR Self Service to update your information, which will subsequently be provided to Aon.  
• If you are a deferred member or retiree, please contact Aon directly to notify them if you have an update to make on your file.

You should. However, your legal spouse has pension entitlements under law, regardless of whether you name them as a pension beneficiary. Spousal entitlements may be modified by provincial property law in cases of divorce, annulment or separation. Please refer to the definition of spouse found in your pension booklet. If you do not have a spouse, then any pension benefits at time of death would be payable to your named Beneficiary or Estate.

Subject to applicable legislation, you can change your pension beneficiary by using the Pre-Retirement Beneficiary Designation feature on the CFMWS Pension Portal. After retirement, you can contact Aon to update your post-retirement beneficiary if you have elected a Single Life annuity.

It is prudent to know what the pension implications of your current marital status are and update your legal name if applicable. Contact Aon for information on your situation. You may be requested to provide documentation such as a copy of a government identification, separation agreement if applicable and a marriage and/or divorce certificate.

If there is information to be updated, it is very important that you reach out to your local HR or Aon, the pension administrator, for assistance. Depending on the update needed, you may be asked to provide documentation or to complete a form.

CFMWS is legislatively required to do so under section 28.1 B) of the federal Pension Benefits Standards Act.

CFMWS collects personal information for the purpose of administering services, benefits and activities related to your employment, pursuant to the Order in Council P.C. 1978-2495. Your personal information may be shared with third-parties that provide services to employees on behalf of CFMWS, such as health insurance, the employee and family assistance program (EFAP), and pension administration, etc. Refusal to provide personal information may affect the terms and conditions of your employment with CFMWS and the services you receive. For more information about how your personal information is used and disclosed, please review the standard personal information banks for employees (PSE). 

Personal information is handled and protected in accordance with the Privacy Act. Under the Act, you have the right of access to and correction of your personal information, and the right to file a complaint with the Privacy Commissioner of Canada regarding the institution’s handling of your personal information.  

If you have questions about this statement or CFMWS’s privacy practices, please contact the privacy coordinator at ATIP.AIPRP@cfmws.com. For more information on the Privacy Act, consult the Office of the Privacy Commissioner of Canada. 

For the Aon’s Privacy Policy, please visit their website at Aon Canada – Privacy Statement. 

Prior to your leave, you will be given the option to maintain pension contributions. If a decision is made to maintain service, a binding agreement will need to be signed. Please reach out to your local HR for more information.

As a military spouse, you have the option to request Spousal Relocation Leave, which allows you to look for work at the new base without having to terminate employment and Plan membership, if continuous employment is not a viable option. You can continue to pay pension contributions while on Spousal Relocation Leave to continue accruing pensionable service. If you do not request Spousal Relocation Leave, then your employment and Plan membership would terminate.

You have earned your maximum or full pension when you have accrued 35 years of pensionable service. You cannot accrue more than 35 years of pensionable service.

You are required to contribute 4.5% of your pensionable earnings, up to the Quebec/Canada Pension Plan Yearly Maximum Pension Earnings (YMPE), and 6% of Pensionable Earnings that are in excess of the YMPE. You are not able to contribute more to the NPF Pension Plan; however, you can invest money in personal RRSPs and TFSAs, including the SISIP Group RSP, up to the limits allowed by the Canada Revenue Agency.

Only previous pensionable service under the Public Service Superannuation Act, Canadian Forces Superannuation Act, the Royal Canadian Mounted Police Superannuation Act, or under a pension plan that is registered under the Federal Pension Benefits Standards Act is eligible for transfer. 

The transfer needs to be initiated within one year of your date of enrollment in the Pension Plan and the transfer of pension funds to the NPF Pension Plan needs to be directly from the previous pension plan. 
Contact your local HR office for more information.

Buying back a period of past pensionable service is only permitted during specified periods as determined and communicated from time to time by the Staff of the Non-Public Funds, Canadian Forces (SNPF) considering the funded status of the Pension Plan and other financial factors relevant to the Pension Plan.  Pension buy back is not something currently being offered by SNPF for the Pension Plan.

Appropriate planning and knowing what to expect is key. It is recommended to review and utilize the resources available online on CORE, on CFMWS.ca/pension and on the CFMWS Pension Portal. Once you have determined your retirement date, you would need to advise your local HR office to start the process.  We recommend three (3) months’ notice to mitigate any risk of delayed income from when you stop working to your first pension benefits payment.

You may retire at any time as of your early retirement date. Please note that an early retirement reduction may apply.

Depending on your years of service and when you terminated employment, you can retire on the first of any month following your 50th or 55th birthday, subject to a reduction. Contact Aon to discuss your desired retirement date and request an estimate. It is requested that you provide a minimum of three (3) months’ notice prior to your desired retirement date.

As of Spring 2025, a pension estimator will be available online via the CFMWS Pension Portal to get an estimate for your Normal (Life with 15‐ Year Guarantee) and Spousal pension options.

When registered before your retirement date, your monthly pension is payable on the first of the month after your employment termination. If you return your signed retirement forms late, you will receive your monthly pension payment as soon as the paperwork can be processed, and you will be paid retroactive to your retirement date.

An indexed pension provides the retiree with a monthly income which is increased by some portion of the Consumer Price Index (CPI) to account for increases in the cost of living. Indexation post-retirement is permitted by the Plan provisions but is not automatic. Historically, indexation for the Pension Plan has only been applied when doing so would not drive the Plan into a funding deficit. Future indexation increases are not guaranteed.

A member who retires early and who satisfies the eligibility requirements of the Plan, is entitled to receive a temporary pension, referred to as a bridge pension, that will be paid in addition to your basic lifetime pension until your 65th birthday. When government benefits become payable, they will supplement your retirement income. Refer to the Pension Booklet for additional information.

Every two years, pensioners are asked to complete a DOS form to confirm their contact information on file is up to date and their living status. Return of the DOS is mandatory and failure to return the form may result in a suspension of your pension benefit. You must notify Aon of any changes to your mailing address as soon as possible.

If you elected a Joint & Survivor Pension option at retirement, your spouse is your designated beneficiary or is an alternate contact person on file, you are encouraged to contact the Plan administrator to update the information on file and learn of your beneficiary appointment options. You may be required to submit a copy of the death certificate.

You can contact Aon, the Plan administrator, who would be able to assist you with this matter.

A change in payment amount could be the result of a change in taxation or having reached age 65. You can contact Aon, the Plan administrator, who can assist you with this.

If your marriage or common-law partnership breaks down, your pension benefit is subject to the application of provincial property law with respect to the valuation and distribution of your pension benefit.  

You should notify Aon as soon as possible if your pension will be subject to division.

To change your tax deductions, you need to complete the Federal tax form (TD1) and the appropriate tax form for your province of residence. The signed forms should be returned to the Plan administrator. If you are unable to obtain the form from Canada Revenue Agency’s website or your accountant, the Plan administrator can provide you with a form upon request.

In short, the pension accrual is yours. The options for what you can do with the funds will depend on your age on the day of termination, years of service, and transfer value amount. Refer to the Pension Plan booklet for more detailed information.

Your local HR Office notifies the Pension and Benefits Office at HQ, who notifies Aon, the pension administrator. Aon will send you pension options within 30 days of notice of your termination. Your election and required forms must be returned to Aon within 90 days following receipt of the options package.

Transfer Value refers to the amount of money that would need to be invested today to provide sufficient funds to pay your accrued pension benefit when you retire. An alternate way of viewing this is that it is how much the future pension benefits are worth today. The transfer value calculation takes into account the accrued benefit, mortality rates, interest rates, and your age at time of termination. 

The initial result of the transfer value provided in the pension options document will be as of your date of termination. Once forms have been returned, the commuted value will be updated with interest from your termination date to the date the transfer is initiated. 

Once you have reached your early retirement age, you no longer have the option to transfer out of the Plan. Instead, you will have the option to begin monthly pension payments or defer the benefit to a later date.

A deferred pension is an earned pension benefit that has been left in the Pension Plan when a Member terminates employment. The pension benefit will be paid to the Member once they are eligible for retirement and elect to commence payments.

If you die prior to retirement, whether the pension benefit is payable and to whom it is paid will depend on your age, years of pensionable service and marital status at time of death. If you die after retirement, pension benefits are paid to your spouse/partner or beneficiary according to the form of pension you chose at retirement.