- Reaction score
- 0
- Points
- 10
Violation of Trust
Many years ago I signed an IPS. I went to check my pension and found they violated the agreement I made with the people of Canada. I was expecting to get my 52% pension and apply for a competition that I had a good chance at. Well they took that away. They spit on their end of the deal. They violated the agreement I had with the people of Canada. They invented a stop loss it seems. Now after 26 years I can only get a 40% pension if I get the job. There is no honour any more. Gone are my dreams of having a home and a job in a place I like or bury my daughter in the place she loved. I feel so violated I am sick to my stomach. A trust broken can never be fixed.
Here is a copy of what they sent me.
With the introduction of the new CFSA, there are a few changes. The rules for IE/IPS wrt the length of time that must be served so that the member can release with an immediate unreduced annuity have been amended. Over the next three years, IE/IPS mbrs will be able to release earlier, on a sliding scale. For 2007, the member on IE/IPS must serve 27 years and 1 day. In 2008 service must be 26 years and 1 day, 2009 25 years and 1 day. You would have to serve the 27 years 1 day to avoid a penalty on the IPS portion of your annuity, the IE 20 is protected.
Or, you can release under the new rules.
Many years ago I signed an IPS. I went to check my pension and found they violated the agreement I made with the people of Canada. I was expecting to get my 52% pension and apply for a competition that I had a good chance at. Well they took that away. They spit on their end of the deal. They violated the agreement I had with the people of Canada. They invented a stop loss it seems. Now after 26 years I can only get a 40% pension if I get the job. There is no honour any more. Gone are my dreams of having a home and a job in a place I like or bury my daughter in the place she loved. I feel so violated I am sick to my stomach. A trust broken can never be fixed.
Here is a copy of what they sent me.
With the introduction of the new CFSA, there are a few changes. The rules for IE/IPS wrt the length of time that must be served so that the member can release with an immediate unreduced annuity have been amended. Over the next three years, IE/IPS mbrs will be able to release earlier, on a sliding scale. For 2007, the member on IE/IPS must serve 27 years and 1 day. In 2008 service must be 26 years and 1 day, 2009 25 years and 1 day. You would have to serve the 27 years 1 day to avoid a penalty on the IPS portion of your annuity, the IE 20 is protected.
Or, you can release under the new rules.