Effective Date of Termination

A Member will have terminated their membership in the Plan following a break in Continuous Service. The effective date of their termination shall be the final day of the last month for which either Credited Service or Disabled Credited Service was accrued. For greater certainty the date of termination shall be the last day of membership in the Plan.

Termination Benefit

An Employee who ceases to be a Member as describe above, for any reason other than death or retirement will be entitled to a deferred retirement pension payable at his normal retirement date.Where permitted by Applicable Legislation, the deferred retirement pension will be multiplied by the funded ratio of the plan.


A terminated Member may direct his entitlement, subject to Applicable Legislation to be transferred to one of the following:

  • to the pension fund related to another pension plan, if the administrator of the other pension plan agrees to accept the payment; or
  • into a locked-in registered retirement savings plan or a locked-in registered retirement income fund under which the individual is the annuitant; or
  • to an Insurer to provide a life annuity that will not commence before the earliest date on which the Member would have been entitled to receive payment of pension benefits under the plan nor commence later than the end of the year in which the Member attains age seventy-one (71).
Small Annuities Provision:

If the annual amount of pension provided is less than 4% of the current Year's Maximum Pensionable Earnings (YMPE) in which the date his retirement, termination or death occurs or if the commuted value of the benefit is less than 20% of the current YMPE in which the date of his retirement, termination or death occurs, the Board may cause to be paid to the Member or surviving Spouse a lump sum equal to the Actuarial Equivalent of such pension.

Insulators Local 95 Benefit Trust Fund c/o Benefit Plan Administrators 
90 Burnhamthorpe Road West, Suite 300 Mississauga, Ontario L5B 3C3