Retirement Options Changes - July 8, 2025

Dear ACAW Pension Plan Members,

We are writing to inform you of important updates to the ACAW Pension Plan that may affect your retirement planning.

Effective June 12, 2025, ACAW will offer the following pension options:

If you do not have a Pension Partner or Spouse at retirement:

  • Normal Form: Life Pension with a 10-Year Guarantee

  • Optional Forms:

    • Life Pension with a 15-Year Guarantee

    • Life Only Pension

If you have a Pension Partner or Spouse at retirement, you may also choose from the following additional options:

  • Normal Form: Joint Pension – 100% to Pension Partner or Spouse with a 10-Year Guarantee

  • Optional Form: Joint Pension – 60% to Pension Partner or Spouse

These options have been selected to better reflect the needs of our members and simplify the retirement planning process.  As a result, a few less common options have been phased out.

What does this mean for you?

We want to ensure you understand how these changes may affect your individual circumstances:

  • If you have already retired or selected one of the phased-out options before July 8, 2025, your pension will remain unchanged.

  • If you have a valid Statement of Retirement Benefits dated before July 8, 2025, you may still choose one of the phased-out options, provided your statement has not expired.

For more information about the updated pension options, please refer to the ACAW Pension Plan Text available on our website.  Our Member Administration Services team is available to provide assistance and answer any questions you may have.  The Pension Booklet, available on our website, will also be updated in the coming weeks.

If you have any questions, please call us toll-free at 1-800-588-1037 or visit www.acawtrustfunds.ca.

 

Thank you,

ACAW Pension Plan Administration