Pension Overview
The Trustees of the N.D.T. Industry Pension Plan shall use all their individual and combined skills to achieve the best rate of return, within acceptable risk tolerances, according to the Plan's established investment policy in a reasonable, cost effective manner, while meeting the requirements of all governing legislation. The Trustees shall act in a transparent manner in the best interests of and reporting to all beneficiaries.
The Pension Plan has been arranged by the Board of Trustees and is administered by D.A. Townley. As the Administrator, D.A. Townley processes remittances from participating employers, manages Member eligibility, and calculates Member entitlement. The Trustees have also appointed other professional service providers such as: investment consultant, legal counsel, custodian, investment managers, pension consultant and auditor.
Collective Agreements between the Quality Control Council of Canada (QCCC) and signatory Nondestructive Testing Companies whose bargaining agent is the N.D.T. Management Association (NDTMA) specify that an hourly contribution must be paid to the NDT Industry Pension Plan. The Plan is funded by these contributions which are invested in a mix of assets chosen by professional investment managers under the direction of the Trustees.
There are four types of benefits provided by the Plan.
- Retirement benefits
- Termination benefits
- Death benefits (pre-retirement)
- Disability benefits (pre-retirement)
Please check your Pension Plan booklet or click on the links to the left to access detailed information regarding the Pension Plan.
There are many things to think about and consider when you are planning your retirement. The Retirement Considerations Guide may help you navigate through the process, so you know what to expect and your retirement commencement is as smooth as possible.
