Retired Members

MEBP pension payments

Your MEBP pension benefits begin the day after your retirement date. This means that your first pension payment may be for a full or partial month. We must receive a Separation Notice from your employer in order to determine your final benefit and begin the payment of your pension benefits. If we receive a Separation Notice from your employer after your retirement date, benefits will be paid retroactively to the day after your retirement date provided we have received your completed retirement forms.

Pension payments by direct deposit are processed on the 2nd last banking day of the month. Most major Canadian Banks will have the payment in your account the same day. Credit unions and non-traditional banks may take an extra day or two.

Pension payment dates for 2020

  • January 30
  • February 27
  • March 30
  • April 29
  • May 28
  • June 29
  • July 30
  • August 28
  • September 29
  • October 29
  • November 27
  • December 30

Income Tax Slips (T4A or NR4)

MEBP will send you a tax slip for your MEBP pension benefit by the end of February each year. The tax slip is your official proof of income for tax purposes. It shows the total amount of pension paid to you during the previous calendar year and the total tax deducted. Tax slips are mailed to your principal (home) address.

If you haven't received your tax slip by late March, contact MEBP. We will confirm your mailing address and send you another slip.

Taxation of your Pension Benefit

The tax withheld from your MEBP pension is based on your monthly pension payment, the information provided to us on your completed federal and provincial Personal Tax Credit Return forms (TD1) or country of residence information, and any additional tax you've asked us to withhold.

To update your federal and provincial income tax information, complete and send MEBP an updated federal and provincial Personal Tax Credit Return (TD1) forms (please see below)

Additional income tax deductions

Income tax is deducted from your MEBP pension as required by the CRA. You can also arrange to have MEBP deduct additional tax from your monthly payments. For example, if your total income from all sources puts you into a higher tax bracket, increasing the tax deducted from your monthly pension benefit may help you avoid a big bill at tax time. We recommend discussing your overall tax situation with a tax adviser or the CRA.

To request or change the additional amount of tax withheld from your monthly pension payments, you can either:

  • Send MEBP a signed letter, with your full name (printed), MEBP ID number (or social insurance number), and the total additional monthly amount you want withheld, or
  • By completing and returning to our office an INFORMATION CHANGE FORM PENSION– RETIRED MEMBER OR SURVIVOR, or
  • By submitting a new Federal and Provincial TD1 Personal Tax Credit Return.

TD1 Personal Tax Credit Return forms.

You may request these forms from our office or you may print them directly from the CRA website at https://www.canada.ca/en/revenue-agency/services/forms-publications/td1-personal-tax-credits-returns.html


Cost of Living Increases

Cost of living adjustments (COLA) may be granted on an “Ad Hoc” basis. The Board of Trustees reviews the plan’s overall financial situation at the end of each year and determines whether or not a COLA can be granted.

If granted, the first COLA will be applied to your 13th monthly pension payment. Future COLAs that may be granted will then be applied on April 1st. If pension payments continue to a beneficiary, your beneficiary will receive two-thirds (2/3) of the COLAs that you were receiving, plus two-thirds (2/3) of any future COLAs.

You will be advised of any COLAs that may be applied to your benefit.

Life Insurance after Retirement

If you had Basic Life Insurance coverage on the date you retire from active employment, then you were eligible for coverage under Post Retirement Life Insurance and premiums are deducted from your monthly pension benefit. At retirement, you would have received a Finalized Pension Statement providing details of your Life Insurance coverage.

Your coverage at retirement is based on the amount of Basic Life Insurance that you had prior to retirement. The coverage amount is then incrementally reduced by your attained age. When you reach age 75, if your insurance coverage has not already reduced to $5,000, it will then automatically reduce to a $5,000 Paid Up Policy and your premium deductions stop.

Below is an example of how post retirement life insurance coverage is determined.


% of Pre Retirement Insurance Coverage
Member’s amount of Basic Life Insurance Coverage while an Active Member 100% $106,000.00
Date of retirement until age 65 50% $53,000.00
From age 65 to age 70 25% $26,500.00
From age 70 to age 75 12.5% $13,250.00
After age 75 PAID UP Policy $5,000.00

As a result of the Manitoba 2012 Provincial Budget, Retail Sales Tax (RST) must be paid on group life insurance premiums.

At retirement, or at any time after retirement, a retired member with Life Insurance may elect the $5,000 Paid-Up Policy at no cost by contacting MEBP and completing the required form. Once you have made the decision to take the Paid-Up Policy, you will not be allowed to increase your coverage in the future.

If you wish to change the beneficiary of your Life Insurance benefit, please complete and return the BLUE-CROSS.MEBP – Group Life Insurance Beneficiary Designation Form