Advantages of Being an LPF Employer or Why Join the LPF?
- The Labourers’ Pension Fund is a defined benefit plan. This means LPF promises to a pay a benefit upon retirement, defined by a fixed formula, for the rest of the member’s life.
- The LPF offers Early Retirement Benefits, Survivor Benefits and Disability Benefits to all eligible members.
- The LPF can often offer new members a Transfer and Portability feature which allows a transfer of benefits from their previous pension plan.
- Active members in the LPF receive Annual Benefit Statements with an updated report of the members work hours, pension credits and personal information by the end of June every year.
- The Labourers’ Pension Fund provides Employers annual Pension Adjustment (PA) amounts by written request. The PA is the amount the Employer has contributed to the Fund on behalf of the member in a calendar year and is tax deductible for the Employer.
- The LPF has introduced a new self-serve website, AccessLPF, for members, Employers and Local Unions to connect to your pension information and perform inquiries and transactions at your convenience!
- Whether a member calls or comes into our office, our Customer Service assistance is readily available Monday through Friday 8:00 am to 4:00 pm with English, Portuguese, Italian, French and Spanish speaking Pension Analysts to assist them. To further assist our members we have located two (2) analysts out of Local 183 Toronto and Barrie offices and Local 506 Toronto office.