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The Income Tax Act (ITA) requires that an employee cannot continue to accrue Pensionable Service after December 1st of the calendar year in which s/he turns age 71. As such, pension contributions will cease as of the preceding November 30th. The ITA requires that the employee start collecting his/her pension as of December 1 of the year s/he attains age 71.

The remainder of employment conditions will remain the same (excluding benefit implications as determined in accordance with the applicable benefit plans). Please see the following link /1bf/benefits/beyond65/ for further details.  

Please do not hesitate to contact us at extension 222HR (x 22247) with any questions.