Along with your IBEW Local 353 Pension, there are other sources of income to consider along with other benefit expense coverage.

Ontario Drug Benefit (ODB)

The Ontario Drug Benefit (ODB) Program takes effect at age 65 if you are a resident of Ontario and have a valid OHIP card. ODB currently covers over 4,400 quality-assured prescription drug products, some nutrition products and diabetic testing agents. For more information visit Ministry of Health and Long-Term Care website or call Service Ontario INFOline at 1-866-532-3161.

When you receive a prescription from your doctor, your pharmacist claims the amount through the ODB Program as the first payor. If the ODB Program does not cover 100% of your prescription amount, the IBEW Local 353 Group Benefit Plan will not cover the difference.

The IBEW Local 353 Group Benefit Plan only covers eligible prescriptions if the ODB Program does not pay any portion. Your pharmacist will claim the amount through Canada Life if the ODB Program does not cover your prescription.

Canada Pension Plan (CPP)

The Canada Pension Plan (CPP) retirement pension provides a monthly benefit to eligible Canadians. You can apply for early CPP benefits between age 60-65 with a reduction and you can apply for late CPP benefits after age 65 to age 70.

For more information visit Service Canada website or call 1-800-622-6232.

Old Age Security (OAS)

The Old Age Security (OAS) pension is a monthly payment available to most people 65 years of age and older who meet the Canadian legal status and residence requirements. To qualify you must have 10 years of residence in Canada after age 18.

For more information visit Service Canada website or call 1-800-622-6232.