For IPF:
dstupar@ipfweb.org
Phone: 1-888-880-8222
Fax: 202-347-7339

For IHF:
rdonovick@bacweb.org
Phone: 1-888-880-8222
Fax: 202-383-3905

620 F Street, NW
Washington, DC 20004
202.783.3788

About Us

 

The International Pension Fund – Canada currently represents over 3,800 Tradesmen in 8 participating locals. Through the International Pension Fund, a member is assured that they will continue to accrue pension credits while traveling to other regions of Canada or the United States.

The Fund's employer contributions, benefits paid and assets all experienced growth in recent years as follows:

Year

Contributions

Benefits

Assets

2000

$1,703,573.00

$4,960,451.00

$86,091,285.00

2001

$1,095,111.00

$5,154,841.00

$81,624,814.00

2002

$1,011,304.00

$5,300,036.00

$78,513,388.00

2003

$1,247,575.00

$5,622,661.00

$81,203,497.00

2004

$1,421,880.00

$5,962,360.00

$84,066,151.00

2005

$2,715,357.00

$5,969,107.00

$89,580,793.00

2006

$2,067,287.00

$5,879,411.00

$94,570,924.00

2007

$2,388,812.00

$6,020,131.00

$93,649,550.00

2008

$2,604,272.00

$6,059,075.00

$71,957,926.00

2009

$3,130,528.00

$3,953,440.00

$45,522,682.00

2010

$3,304,825.00

$2,519,790.00

$48,559,948.00

2011

$4,252,097.00

$2,678,600.00

$51,061,476.00

2012

$4,281,424.00

$2,937,285.00

$56,751,327.00

2013

$6,199,607.00

$3,100,615.00

$67,935,205.00

2014

$8,132,019.00

$3,154,607.00

$81,862,184.00

2015

$6,021,726.00

$3,388,851.00

$90,426,282.00

As of July 31, 2016, the Fund assets total $94,913,291.00. This reflects the transfer of assets and associated liabilities to the Canadian Members' Pension Trust under the Pension Plans Settlement Agreement in 2008. The average contribution rate is currently $2.54. For each $.10 over a $1.50 contribution rate, the $23.60 accrual rate per year of future service is increased by $2.60. The average monthly pension benefit is $305.00 and the highest monthly benefit is $1,354.00. There are 856 pensioners and beneficiaries including 114 disability pensions. Currently, 697 pensioners receive benefits by electronic fund wire transfer. By the end of 2015, more than $114,000,000.00 was paid to pensioners and beneficiaries.

Features of the Plan include the granting of up to 24 years of past service credit upon participation as well as up to 1.5 years of future service credit for each 1,800 hours worked in a calendar year thereafter. An unreduced early retirement benefit is provided at age 63 and the early retirement reduction for 62 has been reduced from six percent to three percent. The reduction for ages 55 to 61 remains six percent per year. A one-time 13th check cost of living increase was paid to pensioners in February 1998. The reduction factors for joint and survivor disability pension were replaced with the more beneficial factors used for Normal or Early retirement benefits. An Orphans Pension is payable when a participant or pensioner dies and a surviving spouse pension is not payable.  A "Pop-Up" option for joint and survivor pensions is available effective January 1, 2014 for new pensioners.

A revised Summary Plan Description booklet concerning IPF-Canada and a Retirement Planning course concerning Federal and I.U. programs, budgeting for retirement and forming local retiree clubs is available. The International Pension Fund is signatory to the International Reciprocal Agreement for BAC - Canada Defined Contribution and Defined Benefit Pension Plans.

Last updated September 2016