PENSION

You (and your spouse) need a real pension plan!

If your current employer offers only a shared-contribution RRSP-type retirement savings plan, please ask your financial advisor to compare it against the security of our defined benefit pension plan.

We think you’ll agree there is NO question which one provides you with the most future security. With our plan, you’ll know what your retirement income will be.

Under Local 488’s fully employer-paid plan, employers contribute $6.00 an hour to our pension plan. PLUS, you get hours-earned contributions, too. Work time-and-a-half or double time, and you get 1.5 or 2 times the pension contribution every hour, meaning even bigger monthly pension payments!

If you know pension plans, you’ll quickly see how impressive Local 488’s is compared to other industry plans.

And you can absolutely count on this: at today's payout level, for every 100 hours of pension contributions, you’ll receive $4.83 per month after you retire.

Here’s how that rate adds up over the years of your career:

10 Years $ 966/month
15 Years $ 1,450/month
20 Years $ 1,933/month
25 Years $ 2,416/month
30 Years $ 2,900/month
35 Years $ 3,383/month
40 Years $ 3,866/month

Based on 2,000 hours of contributions per year.

UA L488 Member