CIBC Mellon is the custodian who is responsible for paying your monthly pension benefit. It is important to keep CIBC Mellon up to date on any changes to your:
- Banking information
- Amount of federal tax withheld
- Power of attorney
To report banking or address changes, call CIBC Mellon at 1-800-565-0479, visit their retiree assistance website or contact the Pension Office and we will send you the forms in the mail.
Relationship status change
If your marriage or common-law relationship has ended, please contact the Pension Office.
Death of a family member, spouse or beneficiary after retirement
If you are a retired member receiving a pension from the plan and your spouse has died, or if you are a surviving spouse or partner, beneficiary or the legal representative for the member’s estate, please contact the Pension Office as soon as possible to report the death of the member, spouse or beneficiary.
Excess interest increases
At retirement, if you choose to have a monthly pension payment from the Plan, your plan pension and any pension guarantee funding required (if applicable) is transferred to your account. As part of the valuation, the actuary will provide a review of your account’s assets versus the liabilities for all pensioners. If the actuary determines that the account’s assets are enough to cover a full or partial increase, then increases in your pension will be provided the next April 1.
The actuary advised that due to the continuing shortfall in the pensioner account, no increases have been provided since 2001.