For IPF:
dstupar@ipfweb.org
Phone: 1-888-880-8222
Fax: 202-347-7339

For IHF:
rdonovick@bacweb.org
Phone: 1-888-880-8222
Fax: 202-383-3905

620 F Street, NW
Washington, DC 20004
202.783.3788

About Us

 

The International Pension Fund - Canada currently represents over 3,800 Tradesmen in 8 participating locals. Through the International Pension Fund, a member is assured that they will continue to accrue pension credits while traveling to other regions of Canada or the United States.

The Fund's employer contributions, benefits paid and assets all experienced growth in recent years as follows:

Year

Contributions

Benefits

Assets

2000

$1,703,573.00

$4,960,451.00

$86,091,285.00

2001

$1,095,111.00

$5,154,841.00

$81,624,814.00

2002

$1,011,304.00

$5,300,036.00

$78,513,388.00

2003

$1,247,575.00

$5,622,661.00

$81,203,497.00

2004

$1,421,880.00

$5,962,360.00

$84,066,151.00

2005

$2,715,357.00

$5,969,107.00

$89,580,793.00

2006

$2,067,287.00

$5,879,411.00

$94,570,924.00

2007

$2,388,812.00

$6,020,131.00

$93,649,550.00

2008

$2,604,272.00

$6,059,075.00

$71,957,926.00

2009

$3,130,528.00

$3,953,440.00

$45,522,682.00

2010

$3,304,825.00

$2,519,790.00

$48,559,948.00

2011

$4,252,097.00

$2,678,600.00

$51,061,476.00

2012

$4,281,424.00

$2,937,285.00

$56,751,327.00

2013

$6,199,607.00

$3,100,615.00

$67,935,205.00

2014

$8,132,019.00

$3,154,607.00

$81,862,184.00

2015

$6,021,726.00

$3,388,851.00

$90,426,282.00

2016

$5,021,321.00

$3,521,500.00

$96,749,584.00

2017

$4,701,777.00

$3,975,763.00

$108,150,463.00

As of August 31, 2018, the Fund assets total $114,103,847.00. The average contribution rate is currently $2.77. For each $.10 over a $1.50 contribution rate, the $23.60 accrual rate per year of future service is increased by $2.62. The average monthly pension benefit is $338.00 and the highest monthly benefit is $2,019.00. There are 909 pensioners and beneficiaries including 93 disability pensions. Currently, 770 pensioners receive benefits by electronic fund wire transfer. By the end of 2017, more
than $250,000,000.00 was paid to pensioners and beneficiaries.

Features of the Plan include the granting of up to 24 years of past service credit upon participation as well as up to 1.5 years of future service credit for each 1,800 hours worked in a calendar year thereafter. An unreduced early retirement benefit is provided at age 63 and the early retirement reduction for 62 has been reduced from six rercent to three percent. The reduction for ages 55 to 61 remains six percent per year. A one-time 1 at check cost of living increase was paid to pensioners in February 1998. The reduction factors for joint and survivor disability pension were replaced with the more beneficial factors used for normal or early retirement benefits. An orphans pension is payable when a participant or pensioner dies and a surviving spouse pension is not payable. A "Pop-Up" option for joint and survivor pensions is available effective January 1, 2014 for new pensioners.

A revised Summary Plan Description booklet concerning IPF - Canada is available. The International Pension Fund is signatory to the International Reciprocal Agreement for BAC - Canada Defined Contribution and Defined Benefit Pension Plans. Currently, 257 members have registered for the BAC Member Portal where participants can review their current pension data.

Last updated November 2018