HomeMy WebLinkAbout8-10 Pension Policy
Cape Breton Regional Municipality
Human Resources Department
Policy/Procedure
Category:
Workplace Benefits
Number: 8-10
Date:
March - 2005
Page: 1 - 2
Approved by Corporate Services Committee: March 7, 2005
Approved by Council: March 15, 2005
CBRM Pension Policy (Pre-Amalgamation Employees)
Policy Statement:
The Municipality provides contributory pension plans for employees giving them the opportunity to
save for retirement. As well the Municipality will continue to honor the terms of non-contributory
pensions approved by motion of former municipalities comprising CBRM.
1.0 Definition
Contributory Pension: plan(s) were both the employee and employer make contributions.
Non-contributory Pension: plans to which the employee has not contributed. These
pensions are generally referred to as Early Retirement pension contracts or Loyalty pensions.
2.0 Responsibilities
2.1 CBRM Contributory Pension Committee(s)
. The CBRM Pension Committee(s) meet regularly to discuss employee pension issues,
while working under the guidelines of the pension bylaws and plan text.
. Liaison between CBRM and the external provider.
. Provide information to both employees and senior management with regard to the
specifics of pension benefit packages.
. Make recommendations to Council regarding changes to contributory plans.
Page 2 of 2
CBRM Human Resources Department
Assist in the administration of pensions for members of contributory pensions
plans.
Pensions for employees participating in contributory plans will be limited to
those outlined in the plan. Request by individual employees for addition or
enhanced pensions will be denied
Act as administrator for all non - contributory pension currently being honored
by CBRM
Respond on behalf of CBRM to all request for pensions or pension
enhancements. That may result from former and current employees who are not
participating in a current or former municipal contributory pension plan. All
request are denied unless the former employee can provide proof in the form of
a motion or contract from their former Municipality.
CBRM Pension Policy (Pre-Amalgamation Employees)