Pension

For employees of MB churches and organizations 

Did you recently receive a Canada Life pension statement in the mail?

Here’s what you need to know:

• In October 2024, the CCMBC Pension Plan changed its plan administrator from Benflex to Canada Life. This means: Since October 1, 2024, all employer and employee contributions are going to a Canada Life pension account in your name – contributions have stopped going to your Benflex account; and
• On October 22, 2024, your pension account balance for contributions made before October 1, was transferred from Benflex to Canada Life.

The Canada Life pension statement you recently received is for the period from October 1 to October 23, 2024. This statement (stub period) reflects the transfer of your plan assets to Canada Life from Benflex on October 22, 2024. Although the transfer date isn’t indicated on this statement, you can see the transaction date when you log in to your Canada Life account. To log in, go to https://my.canadalife.com/sign-in and head to Savings - Statements and Reports.

In the next few weeks, you can expect to receive your first semi-annual statement from Canada Life for the period ending December 31, 2024. We would also like to encourage you to look out for our upcoming pension newsletter coming in February 2025, which includes an overview of the 2024 plan performance and other important plan details.

Have questions? Please email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

Pension at a Glance

• The pension plan of the Canadian Conference of M.B. Churches is held with Canada Life.
• The CCMBC pension plan is a defined contribution (DC) plan.
• You contribute 5% of your gross earnings to your account and your employer matches 100% of your required contributions. Your employer will not match your voluntary contributions. 
• The amount you receive from the plan will depend on the pension contributions that you and your employer make to your account, investment earnings, and fees deducted.
• Vesting rights (ownership of funds) are 100%. You can withdraw from your account as early as age 55 subject to retirement. 

For more information, please refer to the Member Booklet your for province of employment.

To speak to someone from our office about your Pension, please contact:

Canada Life Group Retirement Services
Mon-Fri 5am-5pm PT
1-800-724-3402
www.canadalife.com

The above details are only a summary and the policy document will prevail if there are any discrepancies. While these plans are subject to change without notice, we will make every effort to provide notice where possible.