Your benefit in the MSBA Pension Plan is immediately vested (see what vested means). If you leave your position with your Participating Employer, you will receive the total value of your account balance no matter how long you were in the Pension Plan.
Your benefit is locked-in (see what lock-in means), except for certain circumstances. If your Plan membership terminates, your pension benefit is vested and locked in. You may transfer your total account balance to:
Depending on your age and pension account balance, you may also be entitled to choose a lump sum cash payment of your locked-in (see what 'locked-in' means here) account balance per the Manitoba Pension Benefits Act. The calculation to determine whether your pension benefit is locked-in is set by the provincial pension legislation.
Upon your death, your Spouse/Common-Law Partner or your designated beneficiary(ies) would be entitled to your Total Account Value...
If you should pass away while you are a member of the Pension Plan, your spouse, designated beneficiary or estate will receive your pension death benefit. The amount of this benefit is the same as...
