The Canadian Broadcasting Corporation Pension Plan (“CBC Pension Plan”) was established by the Canadian Broadcasting Corporation (CBC/Radio-Canada) effective September 1, 1961, pursuant to provisions of the Broadcasting Act. The CBC Pension Plan is primarily a contributory defined benefit pension plan covering the majority of employees of CBC/Radio-Canada. The CBC Pension Plan is federally regulated and governed by the provisions of the Pension Benefits Standards Act and its Regulations thereof.
The primary purpose of the Plan is to provide defined benefits for its members in accordance with the CBC Pension Plan text (and other documents), describing the Plan. The benefits received by its members are financed by the assets (and investment earnings) of the Plan and the contributions of CBC/Radio-Canada and the participating employees. At the end of 2021, the Plan served 19,691 members, of which 38% were active members and 62% were pensioners or deferred members.
CBC/Radio-Canada is the Plan Sponsor and, as such, defines the pension benefits and establishes criteria for membership and entitlement to pension benefits.
CBC/Radio-Canada has transferred the responsibility for administering the CBC Pension Plan to the Board of Trustees through a Trust Deed.