BENEFITS & PLANS

Pension Plan Employee Booklets


Everyone who participates in the TRIO Pension Plan is categorized by their pension benefit option. Here is a copy of the Employee Information booklet for each of the pension options. See below for a chart of the pension options.

Contact your employer to confirm your benefit option.

Option 1
Option 2
Option 3
Option 4
Option 5
Option 6
Option 7
Option 8
Option 9
Option 10
Option 11
Option 12
For 2024, the year's maximum pensionable earnings are $68,500.00. Please refer to Section A. Eligibility in your employee booklet for relevance.

 

Option
Employee Contribution
(% of Salary)
Normal Retirement Age
Early Retirement Penalty
Condition for Optional Retirement at age 55
Benefit Formula
CPI Indexing
1 6.50% 65 4% per year (60-65)
6% per year (55-60)		 N/A 2% Career No
2 7.75% 65 4% per year (60-65)
6% per year (55-60)		 N/A 2% Career Yes
(max 6%)
3 9.25% 60 6% per year N/A 2% Career Yes
(max 6%)
4 4.50% / 6.25%
(up to/over YMPE)		 65 4% per year (60-65)
6% per year (55-60)		 N/A 1.4% / 2%
Career		 No
5 10.00% 60 4% per year (55-60)
6% per year (50-55)		 85 "points" 2% Career Yes
(max 6%)
6 8.00% 60 4% per year (55-60)
6% per year (50-55)		 80 "points" 2% Career see note 1
7 7.25% 65 6% per year 80 "points" 2% Career
(1994 base year)		 see note 1
8 5.75% 60 6% per year N/A 1.3% Career Yes
(max 2%)
9 3% - 9% 65 N/A N/A Defined Contribution No
10 10.25% 60 6% per year N/A 2% Best 5
(Future service only)		 Yes (85% of CPI, Max of 5.1%)
11 12.25% 60 6% per year N/A 2% per year (past and future service) Yes (Max of 6%)
12 7.00% 65 4% per year (60-65)
6% per year (55-60)		 N/A 2% Best 5 (future service only) No

Note 1 –For service earned between 2000 to 2012, an annual CPI adjustment  to a maximum of 2% applies. For service earned after December 31, 2012, CPI adjustments will be made at the discretion of the TRIO Board, dependent upon favourable economic conditions.