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Back to How it works Participation and Investment options Online tools Retirement Termination
intro page contributions and fees or death
This overview is a summary document only. In the event of any discrepancy, the plan text prevails.
For more details on the DC pension plan, click the Savings & retirement tab in the top navigation
bar, then DC pension plan.
Contact
For details about how to reach the Benefits Administrator, click on the Need help? button on the Benefits
website.
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Back to How it works Participation and Investment options Online tools Retirement Termination
intro page contributions and fees or death
How it works
Your pension plan is a Defined Contribution (DC) plan.
You and the You decide how You can track your When you retire or
company contribute much to contribute DC account at any leave, you are
to your DC account and how to invest time via the entitled to your full
the money in your dashboard on the DC account balance
account from the Benefits site including all
investment options contributions and
available any investment
growth
Smart Tip!
The DC pension plan has many advantages
> Easy saving through payroll deductions
> Company contributes up to 6% of your pay
> Tax advantages: your contributions are fully tax-deductible and the money in your
account grows tax-free
> Low investment management fees
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Back to How it works Participation and Investment options Online tools Retirement Termination
intro page contributions and fees or death
Contributions
0% 4% automatic contribution 4%
You can change your contribution level at any time. You cannot withdraw money from your DC
account while you are an employee.
When you reach two years of service, if you are actively at work and contributing less than 2% of pay,
your DC contribution rate is automatically increased to 2% unless you change this percentage.
Smart Tip!
Maximizing company’s contributions
> By contributing just 2%, you double your total savings and accumulate a total of 8%
(2% from you and 6% from the company) of your pay in your account every year
> 90% of employees contribute at least 2% to maximize the company’s matching
contributions
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Back to How it works Participation and Investment options Online tools Retirement Termination
intro page contributions and fees or death
Complete the Investor profile questionnaire on the Benefits site to help you determine the options
and mix that are best suited to you.
Fees
The company pays the cost of the general administration of your plan. You pay the investment
management fees and fund operating expenses associated with the funds in which you invest. The
fees you pay depend on the funds you select. For most funds, the fees are approximately 0.3% or
less of the fund value per year.
Smart Tip!
The most popular investment option
More than 80% of employees invest in the Lifecycle Option.
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Back to How it works Participation and Investment options Online tools Retirement Termination
intro page contributions and fees or death
Online tools
Go to the Savings and retirement Use Retirement Horizon to:
pages to:
> Monitor your DC pension plan account > Estimate your retirement income from all
> Track the performance of your assets sources
> Make changes > Evaluate if you are on track for retirement and
how much you need to save
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Back to How it works Participation and Investment options Online tools Retirement Termination
intro page contributions and fees or death
Retirement
You are entitled to your full DC account balance. You can remain in the plan and participate in the
Bell Retirement Income option, or transfer your savings to another prescribed retirement income or
savings vehicle.
The company contributions and your matched contributions plus any income earned thereon must
eventually be used to provide a retirement income. The portion of your DC account that comes from
your contributions over 2% of pay, if any, may be taken as a lump-sum cash payment (net of tax) or
serve to provide a retirement income, whichever you choose.
Ready to retire?
Click the Savings & retirement tab in the top navigation bar, then Online Retirement Initiation tool
under "Your personal info & tools" to initiate your retirement and confirm your official retirement date.
The Benefits Administrator will send this date to your employer and prepare your retirement package
which will be mailed to your home address.
Smart Tip!
Easy transition to retirement
When you retire, you have the option convert your DC account into a Bell Retirement
Income account so you can start receiving a retirement income. This way, you will
keep your money invested in the plan and continue to benefit from low investment fees.
Plus, you will have access to the Benefits site to manage your account and retirement
income payments and will also be able to transfer any savings that you have in the
Bell Group RSP or a personal RRSP to your new account.
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Back to How it works Participation and Investment options Online tools Retirement Termination
intro page contributions and fees or death
Termination or death
Termination of employment Death before retirement Death after retirement
You are entitled to your full DC Your spouse, or your Death benefits will depend on
account balance. Subject to beneficiary if you do not have a the characteristics of the
applicable locking-in spouse, will receive your retirement vehicle you have
requirements, the locked-in account balance in a lump sum, chosen. If you’ve chosen to
portion of your DC account net of tax. remain in the plan and have
(that comes from the company named your spouse as a
Your spouse may be able to
contributions and your designated beneficiary, they
transfer the balance to their
company-matched may continue to receive
own registered vehicle
contributions) shall be used to retirement income payments
without paying taxes until
provide a retirement income from the plan.
the money is withdrawn.
and must be held in a
prescribed retirement income
vehicle.
Smart Tip!
Leaving the company before age 55
If you leave the company before age 55, you can choose to stay in the DC plan as a
deferred member and join the Bell Retirement Income option when you are 55 to start
drawing a retirement income.
Designating a beneficiary
Your eligible spouse is the primary beneficiary of your DC account if you die. If you do
not have an eligible spouse, you may designate whomever you want as the
beneficiary of your DC account.
If you have a spouse, you may still want to designate a beneficiary in the event that
your spouse passes away before you or at the same time as you.