New Plan Custodian – Northern Trust

Effective August 1, 2015, Northern Trust has assumed responsibility of making pension payments to pensioners of the Staff Pension Plan. Pension payments are payable on the first of each month. Northern Trust transferred the pension amounts to each financial institution on July 31, 2015. However, when the first of the month is on a weekend or a statutory holiday, a pensioner’s financial institution may not credit the pension to the pensioner’s account until the first business day of the month. As a result, some pensioners will have received their pension deposit on Tuesday August 4, 2015. The process for paying pensions has not changed.