Normal Retirement:
A member’s normal retirement date will be the first day of the month following the month in which the member reaches age 65.
 Early Retirement:
A member may elect to retire as early as age 55 on a reduced pension. The reduction will be 6% per year (i.e. ½% per month) between the early retirement date and age 65.
 Postponed Retirement:
Members may elect not to retire at their normal retirement dates in which case
they will continue to earn pension credits with respect to contributions made
on their behalf by a participating employer. Such members may elect to start
receiving the pension on the first day of any month after their normal
retirement dates but, under Government regulation, must commence to receive
their pensions no later than the first day of December in the year they reach
age 71.

Once a member’s pension has commenced the member will no longer accrue pension credits in respect of any contributions made by a participating employer. This means that if a member who is receiving a pension returns to work covered by the Plan the member’s pension will continue and he or she will not earn further pension credits as a result of continuing employment.