NSAHO Pension Plan Home

How your pension is paid

Pension payments are made on the first of each month. For example, your June pension payment will be paid on June 1st.

Your pension payment is deposited directly into your bank account each month. You will be sent an “advice memo” the first month your pension is deposited. This memo will confirm the bank account to which your pension was deposited, as well as your gross pension amount and any deductions.

Note: You will not receive another advice memo for subsequent pension deposits until there is an event that changes the amount of your monthly pension – for example, a cost of living adjustment, a change in your income tax or other deductions, or when your bridging benefit (if applicable) ceases when you reach age 65.

Income tax is deducted from your pension before it is paid to you. If you choose, you may also have the monthly premiums for your Health Association Nova Scotia group life insurance and group health insurance deducted from your monthly pension.

You can ensure that your monthly pension payments are not interrupted if you remember to contact us whenever you make any changes to the bank account to which we deposit your monthly pension.


Back To Top

separator
This website is for informational purposes only. It is not intended to provide specific individual financial, legal, investment, or tax advice. For full details on legal issues and terms of use, see legal disclaimer.
Powered by Eckler Ltd.