Employee Contributions

Prior to July 1, 1995:

• 5.0% of Annual Plan Compensation less 1.8% or the applicable CPP contribution percentage of the portion of such Annual Plan Compensation on which CPP contributions are determined 

July 1, 1995 to January 1,1998 

• 5.0% of Annual Plan Compensation less the required CPP contributions (determined on the basis CPP contributions rules in 1995)

January 1, 1998 to January 1, 2000 

• 4.0% of Annual Plan Compensation

On and after January 1, 2000 

• No member contributions to the Plan are required or permitted 
  
  Member contributions are subject to limits imposed by the Income Tax Act (Canada). Interest on employee contributions is credited based on rates of return declared by the Company up to December 31, 1987 and for each Plan year commencing January 1, 1988, using a rate equal to the average of the month end yields reported for CANSIM Series V122515 for the immediately preceding plan year.
  
  Voluntary member contributions are not permitted. 

Retirement Dates

Normal Retirement Date

• The normal retirement date is the first day of the month coincident with or next following the member’s 65th birthday.

Early Retirement Date 

• If a member has been in the Plan for at least two years, the member may choose to retire as early as age 55. If a member has 30 years of continuous service, the member may retire immediately.