What deductions are taken from your pension?
What Happens to your Pension After You Retire?
What Deductions are Taken from Your Pension?
Spousal or child support payments
Additional Canada revenue Agency deductions
What Death Benefits are Available for your Survivors after Retirement?
What About Health, Dental and Life Insurance Benefits?
Insured benefit premiums
If you qualify for post-retirement insured benefits, your former employer pays most of the cost for your insured benefit premiums. You pay a small portion of the premium if you want vision care and hearing aid plan coverage. If you choose only medical and dental coverage you will pay no premium although there are some deductibles. You may elect vision and hearing aid plan coverage and cancel it later. However, once you cancel coverage, it cannot be reinstated. For more information, please refer to the Ministry of Government Services booklet A Guide to Your Benefits – After Retirement.