Update No. 197 - December 2016

To: Active and Inactive Plan Participants on August 31, 2016
From: Howard Van Mersbergen, Executive Secretary-Treasurer

Status Report

The enclosed report shows your status with the Plan as of August 31, 2016. Be sure to check the information carefully and contact us promptly if it is incorrect or incomplete, or if your records do not agree with ours. Please check that your designated beneficiary is current. If you need to add or change your beneficiary, you can obtain the Change of Beneficiary form from the “Employee Benefits” section of our website (www.csionline.org), under “Canada Pension”, then “Forms”.

Earliest Unreduced Retirement Date

As described in the April 2015 Your Pension Update, the early retirement subsidies are being changed beginning September 1, 2016. The enclosed status report reflects this change.

Retirement Calculations Online

The status report contains a projection of your pension at retirement. However, you can go online and create your own projections. Instructions are in the status report. The information you receive will help you plan and prepare for retirement.

We are happy to do the calculations for you and project your benefit to your retirement date. We can do these calculations for more than one retirement date. Just call us at 877.274.8796, ext. 231, or email us at csipensionplan@csionline.org and provide potential retirement dates.

Retirement Checklist

The enclosed checklist suggests steps you can take regarding your participation in the Pension Plan to prepare for retirement. Choose the checklist that is applicable to you and complete the steps to work toward your retirement goals.

Interest Rate

The Trustees confirmed 1.22% as the interest rate to be credited to the participant’s contribution account for 2016/2017.


At the Plan’s year-end on August 31, 2016, the Trust Fund's net equity consisted of investments having market values in excess of $319 million. The asset composition was 1% cash or cash equivalents, 31% Canadian fixed-income securities, 17% Canadian equities, and 51% international equities. The total investment portfolio’s time-weighted annual rate of return through September 30, 2016, was 11.9% for the past year, 11.5% for the past three years and 11.2% for the past five years. The actuarially assumed interest rate is 6.25%.

Funding Status

The last valuation as of August 31, 2015, showed the Plan to be funded at 90%. The next valuation is as of August 31, 2016, and is being prepared.

Plan Book and Summary Plan Description

To stay current with the Plan, you may always request an updated copy be sent to you or you may view the most recent version of both documents on the website at www.csionline.org/benefits, under “Canada Pension”, “Publications”.  

Contacting Us for Support

More information about our benefit plans and past Updates is located on our website at www.csionline.org. Select “Employee Benefits” and the appropriate plan. As always, if you have questions, please contact Marcy Sterken at 877.274.8796, ext. 231, or 616.284.3231, or by email at csipensionplan@csionline.org.