Pension Fund

Eligibility

The following persons are eligible to become members:

  1. Credential holders who have full time employment in a PAOC church, ministry, or affiliate.
  2. Non-credential holders who have full time employment in a PAOC church, ministry or affiliate, who are members in good standing of a PAOC assembly or would qualify for membership as per requirements outlined in The Local Church Constitution.
  3. Part-time employees, credentialed or non-credentialed as noted above, who:
    1. Have completed two years of continuous service and who earn at least 35% of the YMPE* (Year’s Maximum Pensionable Earnings for CPP purposes); or
    2. Have worked at least 700 hours in the two immediately prior consecutive calendar years.

*YMPE for 2017 is $55,300

Note: Pastoring a church on a transitional basis does not impede enrolment in the Pension Fund. Pension contributions can be accepted on a member’s behalf from any employer the Pension Fund has a Participating Employer Agreement with.


For the Prospective Fund Member

  1. Complete and sign the employee portion of the confidential Application.
  2. Decide, in consultation with your employer, the percentage of contributions to be deducted from your pay.

Note: It is the member’s responsibility to advise the Pension Fund of any change of address or future change to the named beneficiary on their Application.


For the Employer

  1. If not already on file with the Pension Fund, complete and sign a Participating Employer Agreement, keeping a copy for your own files.
  2. Complete and sign the employer portion of the Application.
  3. If the employee is a non-credential holder, attach to the Application a letter (on church letterhead and signed by the senior pastor) stating that the employee is a member in good standing.
  4. Deduct the agreed upon percentage of contribution from the employee’s pay, match the amount and send in a cheque within 30 days.  (Note: All cheques to be accompanied by a General Remittance Form available through the Pension Portal, clearly indicating who the cheque is for and how the amount is to be split between employee and employer portion.)
  5. Additional employer information, including government reporting, can be found on the Employer Information Sheet.

Once all of the above is received by the Pension Fund, the employee will receive a letter welcoming them as a Fund member and enclosing a current copy of our Membership Information Booklet.