Receiving Your Pension Payment
When you retire, your pension payment is made to you either by direct deposit or by mail.
If your pension payment is made by direct deposit, keep APS up to date with your banking information as well as your address. The advantages of direct deposit are that postal disruptions will not affect your payment and there is no risk of theft.
Direct deposit is only available through financial institutions in Canada. If you are not yet on direct deposit, you can sign up by completing the Direct Deposit form and submitting it through Secure Messages. To access Secure Messages you need to log in to Your Pension Profile at the top right.
Payment by Mail
If you receive your pension payment by mail, make sure you keep your contact information up-to-date using Your Pension Profile or by contacting us. In the event of a postal disruption, contact the Member Services Centre to find out how payments will be made.
Cost-of-Living Adjustment (COLA)
Pensions payable by the Plan are increased each year on January 1. The increase is based on the increase during the twelve-month period ending on October 31 in the previous year. COLA is prorated for pensions that became payable between January 1 and December 31 of the previous year.
For 2023, COLA information is as follows:
- Pensioners who terminated before April 1, 2009, will receive COLA at a rate of 3.72 per cent.
- Pensioners who terminated after March 31, 2009, will receive COLA at a rate of 6.20 per cent.
All pensioners receive a Pensioner Annual Statement. The annual statement includes your COLA amount, monthly pension amount(s), and additional relevant pension information. If you are a pensioner in more than one plan administered by APS, you will receive a statement for each plan.
Taxes are deducted from your monthly pension payment, similar to those deductions made from earnings when you were working. Income tax deductions are based on the personal tax information you have reported to JPP. APS mails tax slips before the end of February each year. For more information and to access your tax slip(s), please log in.
If you need other tax information, contact your Government of Canada District Taxation Office.
Notification of Death
In the event of your death, the Plan must be notified of your passing. Please ensure that your family or the executor of your estate is aware that it is important to contact us as soon as possible.
Initial notification may be made by telephone, fax or letter. A copy of either the death certificate or Funeral Director’s certificate will be required for our records.
If you chose a joint lifetime pension option, APS must be notified immediately if either you or your pension partner dies. If APS is notified too late to stop or change payments, there may be overpayments that have to be paid back to the Plan.
Payments after Death
After your death, the amount of pension payments made, if any, will depend on the type of pension option you chose at retirement. It will be helpful to your family or the executor of your estate if you keep a copy of the completed Retirement Benefit Statement (previously referred to as the Member’s Pension Choice form) with your records. That way they will be aware of what happens to the pension benefit after your death.
The Explanation of Benefits included in the Retirement Benefit Statement, explains the pension options in detail and includes information about the survivor benefit features of each option.
Pension Coordination is no longer offered for retirements after April 1, 1998. If you retired before April 1, 1998 and chose Pension Coordination when you made your pension choice, keep in mind:
If you chose the Joint Lifetime with Reduced Survivor Benefit pension option with coordination, your pension will be reduced when you turn age 65. This reduced pension will be paid for as long as you live. If you die after age 65, your pension will continue to be paid to your joint lifetime nominee in an amount without the coordination. This means the pension will be paid as if you had not chosen to coordinate your pension when you retired.
For all other pension options your pension will be reduced when you turn age 65. The reduction to your pension will remain for as long as the pension is paid.
To receive Old Age Security (OAS) and Canada Pension Plan (CPP) benefits, you must apply to the federal government. These benefits are normally paid from age 65; however, you can choose to receive a reduced CPP benefit at age 60 or, alternatively, you can defer CPP payments as long as you begin to draw your CPP by age 70.
For more information on federal benefits, check your local directory under Government of Canada.