What comes next
In the coming weeks, a personalized surplus package will be posted on the Pension Administration Centre (PAC) website for retirees and survivors eligible for a surplus payment. This package will contain:
- Individualized information on the amount to be received and how this amount was determined.
- A Q&A document with more information about the surplus payment.
- The approximate date for the payment.
Packages for retirees and survivors who have not provided PAC with an email address will be mailed to the home address on file.
As previously conveyed, the distribution of surplus assets will not occur earlier than 40 days after the day on which OSFI provides their consent to the distribution of funds. This is a condition of the regulator and it means that deposits can only be made on or after July 29, 2024.
The surplus payment will be paid as a lump-sum amount and deposited according to the banking information on file for you. The lump-sum amount is subject to income tax.
If you have any general questions or concerns about the Pension Plan, please contact the Pension Administration Centre at 1 888 604-9258, but remain mindful that they are not in a position to answer questions related to the individual surplus payment amounts as the personalized surplus packages are currently being produced.
To get on PAC (CBC Pension Administration Centre)
https://www.pensionadmin-cbc-src.ca/
What is my initial password?
The first time you visit this site, or if your password has been reset, your temporary password will be your date of birth in YYYYMMDD format followed by the last three characters (letters or numbers) of your CBC ID number. All letters in your initial password must be entered in capital letters.
Examples:
• If your date of birth is March 12, 1960, and your CBC ID number is 456A1B, your temporary password will be 19600312A1B. Don’t forget that letters must be entered in CAPITAL LETTERS.
• If your date of birth is March 12, 1960 and your CBC ID number is 123456789, your temporary password will be 19600312789.
After you access the site, you will be asked to change your password to a combination of letters, numbers and characters – just follow the on-screen instructions.
How do I reset my password?
If you forget your password, you can answer your challenge questions and your initial password will be restored (as described under “What is my initial password”).
If you try 3 times without success you will be locked out and you will have to call PAC to reset your password – 1-888-604-9258 – Select Language, Option 2, Option 2 again.
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To provide PAC with your e-mail address, please send an e-mail to: pension@cbc.ca along with your CBC ID.