About Being a LiUNA Pension Fund Employer
The LiUNA Pension Fund is a Multi-Employer Pension Plan (MEPP). A MEPP covers several Employers and employees within the same industry and is designed for people who may change jobs frequently. By working for Employers under the same MEPP, members do not have to worry about losing their pension service when they begin a new job or go through a waiting period before they can join their new Employer’s plan. Their service continues to grow in the plan throughout their participation and every day that they work counts toward their eligibility for pension benefits.
The LPF is affiliated with all Local Unions located throughout Central and Eastern Canada and encompasses a variety of work sectors and geographical areas. Our versatility will ensure that the members’ organization will find the right fit within the LiUNA family. For more information about what sectors participate with LiUNA and their Local Unions, see Employer Sectors or Local Unions.
Advantages of Being an LPF Employer or Why Join the LPF?
- The LiUNA Pension Fund is a defined benefit plan. This means LPF promises to 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 LiUNA 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, 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.
How to Join the LiUNA Pension Fund
To become a participating Employer with the LPF, the Employer must be signatory to LiUNA and one of their affiliated Local Unions in Central and Eastern Canada.
If your organization is interested in becoming an LPF Employer, please contact the appropriate Local Union in your area.
- Upon enrollment with a Local Union and signing a Collective Bargaining Agreement, the Employer agrees to contribute to the LiUNA Pension Fund the amount specified in the wage schedule for each hour worked or earned by the employees covered under the Agreement.
- All contributions shall be made payable to the LiUNA Pension Fund on or before the fifteenth (15th) day of the month, following the month in which the hours were worked, and shall be accompanied by a remittance report ensuring the accurate calculation of member contributions for each employee. Remittances should be submitted to the LPF Office or online through AccessLPF.
- Contributions to the LiUNA Pension Fund generate a Pension Adjustment. The PA amount is the amount an Employer has contributed to the LPF on a members’ behalf in a calendar year. The PA amount reduces the amount members can contribute to an RRSP and must be reported on each year’s T4 or T4A. The Employer may request their members PA amounts from the Fund for the upcoming tax season.