Commuted Value and Deferred Pensions

Wondering what happens if, or when, you leave the PSPP before retirement?

Your options are a commuted value or deferred pension.

• Commuted value

  The commuted value is the lump-sum amount that your pension represents (based on your future pension payments) if it were paid out now.

  We do not provide estimates of your commuted value prior to your termination date. However, we can provide you with a summary of your Plan entitlement that you can bring to an investment professional for guidance.

• Deferred pension

  A deferred pension is a pension determined when you leave the Plan and payable at a pre-determined age in the future, based on your pensionable service.

  Deferred pensions may be payable early, in accordance with the Plan’s early retirement eligibility criteria at the date of retirement.

• Our guide to your options

  You can learn more about these options with our guide to Comparing Commuted Value and Deferred Pension Options.