Pensions

Peace of mind with a secure retirement – Join the IAM

If you are looking for a safe and simple way to get a secure income for your retirement, you need to look no further than the IAM – Labour Management Pension Plan.
It’s simple to negotiate, simple to administer and it provides an easy –to-calculate benefit for your retirement.

It’s a Plan Your Employer Can Afford!
The IAM Labour-Management Pension Plan is a multi-employer pension plan with thousands of active members working in dozens of IAM-represented workplaces. It’s ideal for small to medium size workplaces such as Retirement Homes and Long Term Care Facilities. We represent workers at Healthcare Facilities across Canada and many of them are members of our Plan.

Employers contribute on behalf of their employees based on an hourly rate negotiated in their collective agreement. The benefits are based on the contributions made. The plan is government-registered and regulated. The assets are held in a Trust Fund, professionally-invested to provide the best benefits for retirees and their families.

What’s In it For Me?
A Defined Benefit makes it easy to see how much pension you have earned and what you can expect to get on retirement. Shared Risk means that, unlike RRSP’s or Defined Contribution Plans, you don’t personally carry all the risks. A bigger investment fund allows the IAM Plan to diversify, for higher returns and lower risk, at a much lower cost than you would pay on your own. With no Contribution Holidays for employers, any surplus generated by good investment returns stays in the fund to upgrade benefits.

What’s In It For Employers?
As an employer- member of the IAM Plan, you are providing a Secure Pension Benefit for employees without the risks and employer responsibilities of a capital appreciation plan. There are Fixed Cost Obligations based on contributions agreed to in the collective agreement, with no extra balance sheet liabilities. It’s simple to negotiate with standard contract language and a standard Trust Agreement. It’s simple to administer with only one monthly remittance report. There is no need to deal with regulators, lawyers, actuaries or investment managers

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