Thursday, June 20, 2024

The Office of the Superintendent of Financial Institutions (OSFI) has finally confirmed that distribution of pension surplus payments to members (or their beneficiaries, if any) for 2021 and 2022 surpluses may occur.

Upcoming Communications

Today, June 20, 2024, you received a communiqué from the employer explaining the next steps.  OSFI imposes a period of 40 days before the funds can be distributed.  The sums cannot, therefore, be distributed until July 29, 2024.

CBC must now initiate the distribution process.

In the coming weeks, you will also receive a “personalized information kit.»

2023 Surplus

The Pension Plan also generated a surplus for 2023. This surplus will not be distributed with the 2021 and 2022 surpluses cited above.  Instead, it will be reimbursed at a later date.

We will continue to monitor the situation closely.