Understanding the Bridge Benefit

Because our Plan is integrated with the Canada Pension Plan (CPP), if you retire before age 65, your pension will include a portion called a bridge benefit.

The bridge benefit is intended to supplement your pension income until you start receiving CPP benefits. Please note that although you may begin receiving CPP benefits as early as age 60, the bridge benefit will not be deducted from your pension until you reach age 65. The bridge benefit will be deducted from your pension beginning on the first day of the month that follows your 65th birthday.

  • Calculating the bridge benefit

    The bridge benefit is based on the lesser of your highest average earnings (HAE) or the average of the year’s maximum pensionable earnings (YMPE) for the 36 months immediately preceding the month of your retirement. The current formula used to determine your bridge benefit is:

    0.6% x HAE (or three-year average of YMPE) x number of years of service*

    *The maximum number of years of service used to determine your bridge benefit is 35 years.

  • What is the YMPE?

    YMPE stands for the year’s maximum pensionable earnings. It is an amount defined annually by the Government of Canada and is used to calculate contributions to and benefits from the Canada Pension Plan. You can find the current YMPE on the Government of Canada’s website.

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