About the Pension Plan

How the Plan works

Your pension is built over time based on contributions made on your behalf.

• Employers and Members contribute to the Plan at a set amount for each hour you work
• These contributions are used to fund your future pension
• Your pension in retirement is calculated using a formula that depends on the number of hours you work each year
• Active Members may boost their pension in retirement by making additional voluntary contributions

Membership

You are eligible to join the Plan if:

• You are a Member of the International Union of Bricklayers and Allied Craftworkers Local #2 BC or the Ceramic Tile Workers Pension Plan
• You or your employer makes contributions on your behalf as outlined in your Contribution Agreement

If you were a Member of the Ceramic Tile plan prior to April 1, 2025:

• Effective April 1, 2025, The Ceramic Tile Workers Pension Plan (called "the Ceramic Tile Plan") merged into this plan.
• You were automatically enrolled into this pension plan effective April 1, 2025.
• Pension benefits earned prior to April 1, 2025 will continue to be calculated in accordance with the applicable provisions of the former Ceramic Tile plan, including certain early retirement provisions, forms of pension, and other ancillary benefits applicable to that period of service.

Retirement

• The normal retirement age is 65, but you may take a reduced early retirement as early as age 55. You may retire no later than December of the year you turn 71.

How Your Pension Is Paid

Your pension is paid as a monthly lifetime payment. You can choose from 3 main types of pension options. The difference between these forms is the amount of coverage provided to your beneficiary following your death post-retirement. Note that your monthly pension will be higher if you choose an option with less coverage, and lower if you choose an option with more coverage.

• Lifetime pension with no beneficiary coverage past your death
• Life pension with guarantee periods for your surviving beneficiary
• Joint survivor coverage ranging from 60% to 100% of your pension

If you have a spouse, you must select a form of pension that provides at least 60% continuation coverage to your spouse, unless your spouse waives this right.

If You Leave the Industry

If you stop working in covered employment:

• Your pension remains in the Plan
• You may transfer the value to another retirement arrangement (if eligible)
• Transfers are typically “locked-in” for retirement purposes

Death Benefits

If you pass away before starting your pension:

• Your spouse may receive a lifetime pension depending on the option you selected at retirement
• If there is no spouse, a lump sum is paid to your beneficiary or estate

Important Things to Know

• You must apply for your pension — it does not start automatically
• Applications should be submitted at least 2 months before your retirement date
• Pension payments are not made retroactively

Need More Information?

This page provides a general overview only. For full details, please refer to your Pension Plan Booklet or contact the Plan Office for assistance.