I need money. Can I get it from my pension?
The money in your pension plan can only be used for retirement income, with some exceptions. See Dealing with financial hardship.
My employer might be going bankrupt. Is my pension safe?
Your pension plan is required to have a pension fund that is separate from your employer’s business assets. The pension fund can only be used to pay the pensions provided by the plan. If your employer goes bankrupt and the pension fund does not have enough money to pay all the pensions, the Pension Benefits Guarantee Fund (PBGF) may protect some of your benefits if you were employed in Ontario.
My marriage is ending. What should I do about my pension?
If you’re ending your relationship, you and your former spouse will need to decide whether to divide your pension assets. See Pensions and marriage breakdown – a guide for members and their spouses.
Is my pension enough to retire on?
Your pension may be a significant financial asset for your retirement. However, each person’s circumstances are different. You should consult your own financial advisor to make this determination.
How do I learn more about my pension?
If you have questions about the specific terms of your pension and what you are entitled to, you should contact your plan administrator. If you are not sure who that is, use our Pension Plan Information database.
What FSRA can do
- Explain, generally, how pension plans or pension legislation work
- Help you to obtain documents related to your pension plan
- Provide you with forms to unlock your pension or split your pension with your separated spouse
- Monitor pension plans through filings and reports
- Enforce the requirements of the Pension Benefits Act and Regulation
- Review and respond to complaints
What FSRA can’t do
- Determine the benefits you are entitled to
- Give you information about a pension plan other than the plan you’re in, or about other members of your pension plan
- Provide advice on taxes, family law, investment decisions or what to do with your pension when you leave your employer
- Answer questions about the Canada Pension Plan, the Quebec Pension Plan or other government programs or pensions that are not registered with FSRA