Pension payments and dates

If you choose to receive a monthly pension payment, it will be deposited directly to your bank account.


Once your retirement application has been processed, you will receive a monthly pension if you are a member of the pension plan.

You might also receive a monthly pension from the plan if you are:

  • The beneficiary of a plan member
  • A limited member of the plan

You can receive your monthly pension payment in one of two ways:

  • Direct deposit to Canadian and U.S. bank accounts
  • Direct deposit to overseas accounts (via Convera GlobalPay Payee Manager)

Pension payment dates

Your first pension payment will typically arrive on the last day of the month your pension is effective. After that, your pension payments will be deposited two banking days before the end of each month.

We will deposit your monthly pension payment into your Canadian bank account on the dates listed below. For plan members living in the United States, your deposit date may vary from the scheduled date depending on U.S. bank processing requirements. If you live overseas and receive direct deposit through Convera GlobalPay Payee Manager, you can receive your international pension payment within five business days of the Canadian pension payment date.


  2024
payment dates
CAD to USD
exchange rate*
 
 
  January 30 1.35690  
  February 28 1.36200  
  March 27    
  April 29    
  May 30    
  June 27    
  July 30    
  August 29    
  September 26    
  October 30    
  November 28    
  December 23    
 
2023
payment dates
CAD to USD
exchange rate*
 
January 30 1.34750
February 27 1.36470
March 30 1.38940
April 27 1.36510
May 30 1.37020
June 29 1.33720
July 28 1.32770
August 30 1.36740
September 28 1.35800
October 30 1.38050
November 29 1.38110
December 21 1.34930

*The U.S. dollar exchange rate shown is used to calculate your pension payment if deposited in U.S. dollars into a U.S. account. If you are receiving direct deposit to a bank account outside of Canada and the United States, foreign currency exchange rates will be applied.


Related content for monthly pension payments

Apply to become a limited member

How to manage your banking information