Corporate restructuring

Impact on your simplified pension plan (SIPP)

Corporate restructuring may lead to a change in your pension plan. If that happens, you will be informed, no matter how small the change. However, if you do not receive any information about the effect of such a business change on you pension plan and you are concerned, you can contact your employer or the financial institution that administers your plan.

The most common changes

When corporate restructuring occurs, the most common changes to the pension plan are the following:

• 2 or more plans are merged into a single plan
• the plan is divided into 2 or more plans
  (for example, one for union members and one for non-unionized employees)

Impact on your benefits

Generally, a corporate restructuring will not have any effect on the benefits that you have accumulated in the pension plan as a member (amounts entered in your accounts). If this is not the case, you will be informed. However, your benefits and those of the other members can never be reduced without your consent.

The plan is terminated

Corporate restructuring may also lead to termination of the plan.

If you have questions

You should contact your employer or the financial institution that administers your plan.