No.
As long as the definition of employee as defined by the Uniformed Services Pension Plan is met, contributions must continue.
An employee is a person who is employed on a full-time basis, with a member employer for a period involving a minimum of 4 calendar months. The definition of employee does not include students, or a casual, part-time or contractual person whose terms of employment specifically exclude him or her from participation in the pension plan.
From 1991 to 1999, interest on employee contributions has been credited at the rate of the major Canadian banks for one year guaranteed investments. Prior to 1991, interest on required contributions was calculated at 5% per annum. From 2000 on, interest will be paid as directed by the Pension Benefits Act and Regulations. This rate is generally based on 5 year fixed term, term deposit rates.
A member, whose employment status changes to part-time, is no longer eligible to participate in the USPP. It should be noted that, under Section 40 (5) of the Pension Benefits Act, a refund of contributions is not permitted. A part-time employee is required to participate in the Government Money Purchase Pension Plan (GMPP), provided that the employer is participating in the GMPP. Furthermore, there is a reciprocal arrangement whereby credits may be transferred between the GMPP and the USPP.
Yes.
The Pensions Division will participate in information seminars as requested by the employer.
Yes.
A plan member can continue in the Group Insurance Plan after retirement provided that a Group Insurance Continuation form is completed prior to terminating employment. If a member terminates employment and pension is not immediately payable (i.e., Deferred Pension) coverage will be temporarily suspended until the pension is in pay.