Pension
Your pension plan is one of the most valuable assets. We encourage you to visit the Component Website at www.accomponent.ca to read all the bulletins prepared for you from the AC Component Pension Plan Committee.
HR Connex online through Aeronet can provide you with a wealth of information related to your pension and service. We recommend you check online and obtain updated documentation prior to contacting our pension committee reps for assistance.
Please note that Air Canada would like you to apply for retirement at least 90 days prior to your last day of work, in order to ensure there is no delay in receiving your pension benefit.
If you are returning from a leave of absence and are eligible to buy back your pension, you must start the process within 90 days of returning to active duty.
HR Connex online through Aeronet can provide you with a wealth of information related to your pension and service. We recommend you check online and obtain updated documentation prior to contacting our pension committee reps for assistance.
Please note that Air Canada would like you to apply for retirement at least 90 days prior to your last day of work, in order to ensure there is no delay in receiving your pension benefit.
If you are returning from a leave of absence and are eligible to buy back your pension, you must start the process within 90 days of returning to active duty.
AC Component Representatives
Best Three Years!
Did you know that you can see your current best 36 consecutive months used for your pension calculation under your Pension Estimates at HR Connex? Click on Retirement=>HR Connex Pension => Pension => Run Pension Estimates=> Pension Forms of Payment => Calculation detail
The below information applies to all members both at Air Canada and Rouge, who have been hired after November 7, 2011.
It is never too early to plan for your retirement. In fact, the sooner you prepare for your retirement, the greater opportunity you have to take advantage of an investment’s best friend, which is: time. The more time you have, the better it is for your money to grow.
Members hired after November 7, 2011, are on a Hybrid Pension plan.
A Hybrid pension plan consists of two equal components: Defined Benefit (DB) and Defined Contribution (DC).
You can increase your contributions in the DC component of your Hybrid Pension plan. (Members cannot increase their contribution amounts for their Defined Benefit (DB) pension.)
The default setting is at 1.5%, but depending on one’s years of service, members can increase their contribution amount for the DC component of their Hybrid Pension plan.
The Company matches the amounts members contribute into the DC component of their Hybrid Pension plan. Therefore, the more you contribute to your DC plan, the more money you get from the Company.
As an example: a member that has 2 years or less of continuous service, who contributes $100 to their DC pension, will receive a $100 from the employer. Therefore, the member will have $200 in their DC pension account.
Company matching amounts for DC contributions:
To maximize your DC contribution amounts, follow these steps:
For Mainline Employees: HR Connex > Retirement > My DC Pension > Manulife > My Account > My Contributions > View/Change My Payroll Deduction Amount.
Did you know that you can see your current best 36 consecutive months used for your pension calculation under your Pension Estimates at HR Connex? Click on Retirement=>HR Connex Pension => Pension => Run Pension Estimates=> Pension Forms of Payment => Calculation detail
The below information applies to all members both at Air Canada and Rouge, who have been hired after November 7, 2011.
It is never too early to plan for your retirement. In fact, the sooner you prepare for your retirement, the greater opportunity you have to take advantage of an investment’s best friend, which is: time. The more time you have, the better it is for your money to grow.
Members hired after November 7, 2011, are on a Hybrid Pension plan.
A Hybrid pension plan consists of two equal components: Defined Benefit (DB) and Defined Contribution (DC).
You can increase your contributions in the DC component of your Hybrid Pension plan. (Members cannot increase their contribution amounts for their Defined Benefit (DB) pension.)
The default setting is at 1.5%, but depending on one’s years of service, members can increase their contribution amount for the DC component of their Hybrid Pension plan.
The Company matches the amounts members contribute into the DC component of their Hybrid Pension plan. Therefore, the more you contribute to your DC plan, the more money you get from the Company.
As an example: a member that has 2 years or less of continuous service, who contributes $100 to their DC pension, will receive a $100 from the employer. Therefore, the member will have $200 in their DC pension account.
Company matching amounts for DC contributions:
To maximize your DC contribution amounts, follow these steps:
For Mainline Employees: HR Connex > Retirement > My DC Pension > Manulife > My Account > My Contributions > View/Change My Payroll Deduction Amount.
Usefull documents
Pension Handbook: English
Pension Handbook: French
Retirement - Are you ready? -Apr 2021
Pensions 201 (an overview of the system) -2016
This information is provided for ease of access only, please refer to the Component website for updated information from this committee.
Pension Handbook: French
Retirement - Are you ready? -Apr 2021
Pensions 201 (an overview of the system) -2016
This information is provided for ease of access only, please refer to the Component website for updated information from this committee.
Alight defined benefit (DB) plan
For Pension Estimates & Other Pension Plan Information. Pension estimates can be done through the Aeronet portal Aeronet address: https://acaeronet.aircanada.ca
Follow These Steps
Sign into Aeronet:
1. Select hrConnex
2. On the left side of the page in the Retirement section, select HR Connex Pension
3. Select Project your retirement income
4. You can run different retirement dates under Assumptions. Different pension amounts and options will be displayed as applicable.
We encourage all pension plan members to use this guide to access your pension plan details and familiarize yourself with your greatest benefit. The more information and knowledgeable each of us have, the more prepared you will be to make decision about your pension.
All pension inquiries are now handled by Alight call center representatives.
The contact is 1 833-847-3675, then follow the prompts to select defined benefit plans administered by Alight
1. Select hrConnex
2. On the left side of the page in the Retirement section, select HR Connex Pension
3. Select Project your retirement income
4. You can run different retirement dates under Assumptions. Different pension amounts and options will be displayed as applicable.
We encourage all pension plan members to use this guide to access your pension plan details and familiarize yourself with your greatest benefit. The more information and knowledgeable each of us have, the more prepared you will be to make decision about your pension.
All pension inquiries are now handled by Alight call center representatives.
The contact is 1 833-847-3675, then follow the prompts to select defined benefit plans administered by Alight
