Are you familiar with our Salaried Pension Plan (RRFS-FISA)?

*Studies show that it is necessary to contribute twice as much to a group RRSP or defined contribution plan to obtain the same guarantees as a defined benefit plan.
Find out more about this pension plan
What is an “RRFS” employee-funded pension plan?
The RRFS-FISA employee-funded pension plan is a defined-benefit, career-salary, employee-funded pension plan (RRFS). This plan :
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- Protects you against increases in the cost of living.
- Maintains your purchasing power by indexing your annuity.
- Offers a guaranteed annuity for life!
- Much more advantageous than a group RRSP.
A pension plan is synonymous with comfort, security, health and leisure! Joining FISA means benefiting from a defined-benefit pension plan. What if you could enjoy retirement without depriving yourself? To benefit from this plan, you must be a member of a FISA-affiliated union. Whether you are or not, we can help and inform you.
Who participates in RRFS-FISA?
— My pension
How is my retirement pension determined?
The “normal” annual pension is the pension accumulated before the reduction applicable for early retirement. For each year of participation, the annual pension corresponds to 10% of the total contributions paid by you and your employer.


Eligibility and membership
What are the eligibility rules for joining the plan?
All employees join the plan on January 1 of the year following the year in which they worked and who, during the calendar year, earned at least 35% of the MPE or worked 700 hours. The collective agreement applicable to the employee, if any, takes precedence over the above eligibility rules.
Is plan membership mandatory?
Yes, participation in the plan is mandatory for all employees who have reached the eligibility date.
Who funds the RRFS?
Am I required to contribute to the plan?
Yes, the employer deducts from your pay a mandatory employee contribution as described below. This contribution is tax-deductible directly through your payroll.
How are employee contributions calculated?
The employee contribution is equal to the difference between the total required contribution to the RRFS and the negotiated employer contribution.
Employee and employer contributions to the RRFS are as follows:
The employee contribution is the portion deducted from your pay. It is determined at least in accordance with your collective agreement or contract with your employer. In the RRFS-FISA, you can contribute up to 9% of your eligible salary. You must establish your contribution level at the time of enrolment, and at any time thereafter, using the “Determination of contribution level” form. Failure to complete this form will result in the minimum contribution being deducted.
For its part, the employer pays a fixed contribution of a certain percentage of your eligible salary. This percentage is specified in your collective agreement or contract with your employer.
Can I make voluntary contributions?
You can make voluntary contributions in excess of your employee contributions, up to the tax limit. No employer contributions will be made against your voluntary contributions.
Can I transfer money into the plan from another plan?
You can transfer any amount from:
- another pension plan (RPP);
- a registered retirement savings plan (RRSP);
- a locked-in retirement account (LIRA);
- a deferred profit-sharing plan (DPSP).
Your contribution transfers are deposited with the Pension Fund in a separate account in your name. An annually varying rate of return, based on the Caisse’s rate of return, will be credited to your contribution transfers, just as it is for voluntary contributions. We suggest you contact the contact person for further details.
Can I withdraw my voluntary contributions or transfers from a previous plan?
You may withdraw your voluntary contributions with interest and amounts transferred from a former plan only once during your career, with at least 30 days’ notice. The balance of voluntary contributions, if any, will be refunded upon termination of employment or converted to an annuity upon retirement.
What is the impact of amounts transferred from another plan?
Amounts transferred from another plan will provide you with additional retirement income. Your contact person can provide you with more information.


Retirement dates
At what age can I take normal retirement?
The “normal” retirement date is the 1st day of the month following or coinciding with your 65th birthday.
Can I retire before age 65?
It is not possible to take an unreduced pension before the normal retirement date. You can retire at age 55 or over. If you have not reached normal retirement age, you will take early retirement with a pension reduction. The applicable reduction is one per actuarial equivalent for each month between your early retirement date and your normal retirement date.
Buying back years of service
Can I buy back years of service to increase my pension?
It is possible to buy back years of eligible prior service. Eligible service is service with a former employer with eligible RPP service, or with the employer prior to joining the plan.

Placement
Who manages the plan's fund assets?
The Retirement Committee is ultimately responsible for managing your pension plan’s fund assets. To this end, the Retirement Committee has a written investment policy that sets out the guidelines and framework for investments that may be made by the Plan’s fund managers. The Retirement Committee selects the investment vehicles, but does not manage them. The investment managers do.
How is the Retirement Committee made up?
The Retirement Committee is made up of 7 to 9 members. The members of the Retirement Committee, with voting rights, are designated as follows:
- Two (2) members appointed by the union council;
- Two (2) members appointed by SEFISA;
- One (1) person designated by active members at the annual meeting. Failing such designation, a participant designated by the union council;
- One (1) person designated, where applicable, by non-active participants and beneficiaries, at the annual meeting. Failing such designation, a participant or beneficiary designated by the union council;
- One (1) independent member appointed by the union council.
Two (2) additional members designated, where applicable, by the group made up of active members and the group made up of non-active members and beneficiaries at the annual meeting. Additional members have the same rights as other Pension Committee members, with the exception of voting rights.
What is the term of office for a member of the Retirement Committee?
Retirement Committee members are appointed for renewable terms of up to three years.
Can I become a member of the Retirement Committee?
You can apply for one of the positions of representative of active or inactive members and beneficiaries, depending on your status, at the Pension Plan’s annual meeting. You will receive a notice inviting you to attend the annual meeting. Join the committee!
Get answers to your questions
Where can I go for general information on pension plans?
Gather information on the Quebec Pension Plan under this link.
Old Age Security Pension (OAS)
Click here for information on the Canadian government’s Old Age Security program.
Any questions?
Contact us or join the RRFS-FISA (Régime de retraite par financement salarial) today.
Call us or write to us using the contact form below, and a retirement resource will contact you as soon as possible.
Email: retraite@fisa.ca
Phone: 1 800 407-3472, option 2 or extension 601
Who do I contact if I need more information about my pension plan?
You can contact the FISA Retirement Department:
Email: retraite@fisa.ca
Phone: 1 800 407-3472, option 2 or extension 601
You may also contact the administrator of PBI Actuarial Consultants Ltd. directly at the following coordinates:
Email: rrfs-fisa@pbiactuariat.ca
Phone: 1 877 748-482
You can consult key documents relating to the plan. These key documents include the plan text, internal regulations, investment policy, funding policy, list of delegations, annual financial statements and actuarial valuations. They are available on the RRFS-FISA portal.
The Retirement Committee can also provide you with a copy of the desired documents within 30 days of receiving your request, which must be submitted in writing.