Aeroplan Members - Update Pension Incentive Program

Aeroplan Members - Update Pension Incentive Program

April 15, 2021 at 1:05 PM
Our union has been engaged in discussions with Air Canada under the joint planning committee process as stipulated in the Group Termination provisions of the Canadian Labour Code.   While Aeroplan was not part of these discussions because this process had not been triggered as of yet due to the timing of the layoffs.  Air Canada has agreed to extend the following retirement incentive to Aeroplan:

Added Pension Benefit up to age 65: Members who as of August 1st, 2021 at the latest, are eligible to receive an unreduced pension (members who are at least age 55 and have 80 points) who apply for a temporary pension benefit before May 14th, 2021, and who retire between June 1st and August 1st, 2021 will receive an annual pension benefit of $400 per year of allowable service accumulated in the pension plan in addition to the pension benefit they are otherwise entitled to receive, to a cap of a maximum of $14000 until age 65.

For Example, A member that is age 55 with 30 years of allowable service will be entitled to 30 x $400.00 = $12,000 per year in addition to their monthly pension until they reach age 65.

This program will be paid for through the surplus of the pension plan which currently sits at a solvency surplus of 111% or $3 billion. Air Canada reserves the right to limit the number of applications for each program.

Members will maintain all previously granted and unused C1/J passes (Thank You, Appreciation, Holiday, and Unique events) which have not expired. They must however be used within 2 years of retirement date (IE: 01 March 2023). Unused Reunion passes are also able to be carried into retirement but must be used no later than December 31st, 2022.

Members who opt for one of the programs will also be granted a one-time “Mitigation Retirement Pass” valid for the retired employee and one companion of choice. The Mitigation passes have a priority of PJ5/J00, must be booked 21 days in advance, and are subject to availability. These passes must also be used by December 31st, 2022.

Further details will be released by the company.  The application deadline will be May 14, 2021.  The company will provide a calculator to assist members in determining if they qualify and how much they will be entitled to. 

Unifor Local 2002 will continue to keep the membership apprised of any further developments. Please stay tuned for further updates and subscribe to e-news at 

In solidarity,
Your Aeroplan Bargaining Committee
Ross McConkey, Bargaining Committee Representative
Jacky Lui, Bargaining Committee Representative
Vince De Sua, Bargaining Committee Representative
Stephen Lussier, Bargaining Committee Representative
Josée Genois, Assistant to Local 2002 President
Leslie Dias, Unifor Director – Airlines Sector