Employees' Security Fund Pension Plan (for members of the Fixture, Manufacturing, or Supply Divisions) FAQs

In most cases, a participant in the Plan who has earned a minimum of five years of vesting service will be eligible to receive a benefit. However, if a participant ended work in covered employment before January 1, 1999 they will typically need 10 years of vesting service in order to be eligible to receive a benefit.

Vesting service is the length of time a participant works for a contributing employer. One year of vesting service requires a minimum of 1,000 hours of covered employment.

There are four different types of pensions. Each type of pension is eligible for the Joint and Survivor Payment Option if the participant is married. If you're interested, you can read more about the types of pensions.

A Joint and Survivor Payment Option (J&S Option) provides a continued payment to your spouse in the event you die prior to your spouse after you retire. You can read more about the J&S Option in this announcement.

If you die before retiring, your benefit will be paid to your surviving spouse according to the 50% Joint and Survivor Benefit. If you die after you have retired and started receiving benefits from the Plan, your spouse will be paid if you elected the Joint and Survivor option.

Your pension benefit is based on your credited years of service multiplied by the unit benefit amount in effect at the time you retire.

For example, if you are at normal retirement age, have 20 years of credited service and retire from active employment on June 1, 2013, your benefit will be calculated as follows:
20 years of service x $22.50 = monthly benefit of $450*

*If you are married, joint survivor reductions may apply.