What happens to my pension if I am laid off?

If an employee is terminated without cause, then the employer must maintain the employee’s participation in the pension plan, including employer contributions, at a minimum for the statutory notice period required by employment standards legislation. For provincially regulated employees in Ontario, that is anywhere between 0 and 8 weeks. The employee may be entitled to a much longer period of pension continuation under the common law, which may be several months and in some cases, years. If the employer fails to maintain the employee’s participation in the pension plan for the period required by common law, the employee is entitled to compensation for the lost pension contributions. If the employee participates in a defined benefit pension plan, the employee is entitled to the lump sum present day commuted value loss on their pension, which can be very significant.
What-happens-to-my-pension-if-I-am-laid-off

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