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I'm coming from NPF having been a full-time employee (and pension contributor) for three years. I start BMQ at the end of this month (RegF) and I'm trying to figure out if I can transfer my pension into the CFSA.
Background of my research so far:
From looking at the Public Service Superannuation Act it looks like it's totally separate from the NPF pension. I had heard of transfers happening (both incoming and outgoing) between NPF and CF -- I work on the HR side. Nothing I found online could confirm that I was able to transfer. I spoke with someone on the phone at the CF Pension office (this number: 1-800-267-0350) and he assured me that I could transfer my pension into the CFSA by asking for a CFSA 100 form when I clear in at Basic. I spoke with my pension administrator with NPF and he stated that he has assisted in these transfers in the past (by confirming years of service and related info). He warned me that NPF charges a fee for transfer and that I should inquire with CF to see if they do the same. I sent an email to pension@forces.gc.ca explaining my situation and requesting clarification on any fees and the equivalencies (i.e. do my years of service transfer in 1:1 or is it pro-rated), and the response I received was that I would be unable to transfer my pension in at all.
More info RE: my pension:
I have a defined benefit pension plan which "was established 1969 by Her Majesty in Right of Canada through the Minister of National Defence, pursuant to his authority and responsibility with respect to Staff of the Non-Public Funds, Canadian Forces, to provide retirement benefits to full-time employees." Regulated by CRA and the Office of the Superintendent of Financial Institutions. Pension Benefits Standards Act Registration No. 55228.
Does anyone have any information that I haven't already dug up? Even inclinations as to who is correct on the matter would be appreciated. I can always wait until I arrive at BMQ and complete the form, but the Pension Dept here is making a special exception to my deadline for sending in my pension decision -- if it is unlikely that I will be able to transfer I will probably save them the trouble and submit my decision before leaving for basic.
Thanks in advance for any time spent on this.
Background of my research so far:
From looking at the Public Service Superannuation Act it looks like it's totally separate from the NPF pension. I had heard of transfers happening (both incoming and outgoing) between NPF and CF -- I work on the HR side. Nothing I found online could confirm that I was able to transfer. I spoke with someone on the phone at the CF Pension office (this number: 1-800-267-0350) and he assured me that I could transfer my pension into the CFSA by asking for a CFSA 100 form when I clear in at Basic. I spoke with my pension administrator with NPF and he stated that he has assisted in these transfers in the past (by confirming years of service and related info). He warned me that NPF charges a fee for transfer and that I should inquire with CF to see if they do the same. I sent an email to pension@forces.gc.ca explaining my situation and requesting clarification on any fees and the equivalencies (i.e. do my years of service transfer in 1:1 or is it pro-rated), and the response I received was that I would be unable to transfer my pension in at all.
More info RE: my pension:
I have a defined benefit pension plan which "was established 1969 by Her Majesty in Right of Canada through the Minister of National Defence, pursuant to his authority and responsibility with respect to Staff of the Non-Public Funds, Canadian Forces, to provide retirement benefits to full-time employees." Regulated by CRA and the Office of the Superintendent of Financial Institutions. Pension Benefits Standards Act Registration No. 55228.
Does anyone have any information that I haven't already dug up? Even inclinations as to who is correct on the matter would be appreciated. I can always wait until I arrive at BMQ and complete the form, but the Pension Dept here is making a special exception to my deadline for sending in my pension decision -- if it is unlikely that I will be able to transfer I will probably save them the trouble and submit my decision before leaving for basic.
Thanks in advance for any time spent on this.
