LiUNA Local 493 has 2 Pension Funds for our members. The primary fund, which is a defined benefit plan, is the LiUNA Pension Fund of Central and Eastern Canada. Most employers under collective agreements with LiUNA make contributions based on hours worked to this fund on behalf of our members. Please click here to see the LiUNA Pension Fund website for more information. Our supplemental pension fund is a defined contribution plan held with Manulife. Most employers under collective agreements with LiUNA Local 493 make contributions based on hours worked to this fund on behalf of our members. This is exclusively for Local 493 members. Please click here to see the Supplemental Pension Booklet for more information.
A defined benefit plan, such as the LiUNA Pension Fund provides for guaranteed specific payments based on a set formula that takes into account age, years of credited service and contributions. Contributions go into a pool of funds, which are invested to provide benefit payments. Upon retirement you will start to receive your monthly pension. Please click here to see the LiUNA Pension Fund website for more information. A defined contribution plan, such as our Supplemental Pension Plan provide benefit payments based on the funds in your own individual investment account and how well it performs over your lifetime in the plan. Moneys go into a moderate risk allocation or you have the option of how you want these funds invested. Upon retirement you will be presented with options on how to received these fund. You may want to seek guidance from a financial advisor. Please click here to see the Supplemental Pension Booklet for more information.
You are able to make self-payments to the LiUNA Pension Fund. Please click here to see the LiUNA Pension Fund website for more information. You cannot make self-payments to the Supplemental Pension Fund.
Your membership in the Supplemental Pension Fund will be terminated after 24 months with no contributions. You are immediately entitled to the accumulated value. You will be provided with an Options Statement in which you must transfer the locked in amount. Failure to respond within 60 days will result in the monies forced into a separate account within Manulife. Please click here to see the Supplemental Pension Booklet for more information. After 24 months with no contributions to the LiUNA Pension Fund, you will receive notice with options if you wish to transfer the funds. Alternatively, you can leave these monies with the LiUNA Pension Fund until your retire.
If you have a spouse, the benefit will be payable to your spouse, unless they have waived their rights in a manner permitted by applicable legislation. Please click here for detailed information on changing your beneficiary under the LiUNA Pension Fund. Please contact Benefit Services at 705-805-5601 or email firstname.lastname@example.org for more information about the Supplemental Pension Fund.
You can apply for the LiUNA Pension Fund by logging into lpfcec.org/member-ui/login and complete the online application. If you do not have your member log in information, contact the Pension office at 1-866-932-1100. You may also download an application form here, or contact the pension office to receive one. If you require personal assistance with your application, feel free to call Benefit Services at 705-805-5601 to set up an appointment. Once notice is received from the LiUNA Pension office that you are retired, you will be sent an option statement from Manulife for your Supplemental Pension.