Canadian Blood Services (Technical) Collective Agreement 2021-2024

Article 17: Pension

1. Employees who become eligible for pension plan participation and who elect or are required to participate in a pension plan, may participate in either the Canadian Blood Services Defined Benefit (DB) Pension Plan or the Canadian Blood Services Defined Contribution (DC) Plan, in accordance with the provisions of the plan selected by the Employee. The Employer will notify Employees when they become eligible to join the Pension Plan.
   
   Effective February 24, 2025, Canadian Blood Services employees represented by Health Sciences Association of Alberta, who become eligible for pension plan participation and who are required or elect to participate in a pension plan, may participate in the Canadian Blood Services DB Pension Plan, in accordance with the provisions of the plan.
   
   All current Canadian Blood Service employees represented by Health Association of Alberta currently participating in the DC Pension Plan will be enrolled in the DB Pension Plan, in accordance with the provisions of the plan, by February 24, 2025.
   
   Effective the date of ratification, early enrolment into the DB Pension Plan for active DC Pension Plan members shall be made available, in accordance with the provisions of the DB Pension Plan. Additionally, active DC Pension Plan members will be provided the option to buyback contributory service in the DB Pension Plan, according to the provisions of the DB Pension Plan, following the termination of the DC Pension Plan in 2025.
2. The Employer shall provide each Employee with an annual personal statement of account summarizing Employee contributions, pension entitlement, and any other information as may be required by legislation.
3. The Employer shall distribute to all Employees brochures and other relevant material outlining the above plan, upon hiring and when there are changes to the plan.
4. The Employer shall provide retirement benefits for Employees by way of participation under The Canadian Blood Services Pension Plan subject to the eligibility requirements for membership under such Plan.