Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What retirement income options are available for my funds in the CSS Pension Plan?

April 26, 2017CSS funds income Options pension plan retirement

0

Posted

What retirement income options are available for my funds in the CSS Pension Plan?

1 Answer

0

Posted

For all non-Saskatchewan members, your restricted funds must be used to purchase one or more of the following: (i) a monthly pension from the CSS Pension Plan, (ii) a Life Annuity from a life insurance company, (iii) a Life Income Fund from a financial institution, or (iv) a Locked-in Retirement Income Fund from a financial institution (for Alberta, Manitoba and Ontario members only). For Saskatchewan members, your restricted funds must be used to purchase one or more of the following: (i) a monthly pension from the CSS Pension Plan, (ii) a Life Annuity from a life insurance company, or (iii) a Prescribed Registered Retirement Income Fund from a financial institution. For all members, generally your unrestricted funds (if any) can be used to purchase (i) a monthly pension from the CSS Pension Plan, (ii) a Life Annuity from an insurance company, or (iii) a Registered Retirement Income Fund.