The Desjardins Group offers its employees an advantageous and competitive
defined benefit pension plan, contributing to their peace of mind.
The Desjardins Group Pension Plan ("DGPP" or "Plan") promises a retirement income that is protected from market volatility. It's a valuable part of your total compensation that ensures predictable, stable income throughout your retirement.
| (8 min 12 s)
Why is the Desjardins Group Pension Plan (DGPP) a valuable part of your compensation?
What makes your pension plan stand out from others? |
The DGPP is different from other plans for several reasons: -
• Attractive employee/employer cost-sharing ratio (35/65)
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• Competitive formula for calculating pension at age 65
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• Minimum return of at least 175% of your contributions with interest for your retirement if you leave Desjardins before age 55 and transfer the value of your pension (for service from 2009 and subject to the application of the solvency ratio)
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• Favourable early retirement conditions
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• Indexation of pension upon retirement, based on a known limit
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• Great flexibility in pension forms, including several focused on the financial security of the retiree’s spouse
To learn more, visit the Defined benefit pension plan page.
Eligibility criteria
| My eligibility for the DGPP
(1 min 08 s)
What are the eligibility criteria for the DGPP?
Does it depend on my age, my employment status, my hours worked? |
To learn more, visit the Eligible for the DGPP page. Pension calculation
The DGPP pension is a lifetime pension. That means you'll receive it throughout your retirement, for as long as you live.
Your retirement pension is calculated based on three key elements according to a predetermined formula. It involves a percentage multiplied by your highest average career salaries and the number of years you have participated in the plan.
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Average salary of the best-paid years | | |
Use the pension simulator to estimate your DGPP pension at different retirement dates. You will also see the pension options that could be offered to you. Temporary pensions providing an advance on your retirement income between ages 55 and 65 may also be available.
Contribution rates
| My contributions to the DGPP
(1 min 13 s)
What is the DGPP contribution rate?
How are contributions split between my employer and myself? |
Current formula:
4.4% of pensionable earnings up to 65% of the MPE + 7.8% of the excess
To learn more, visit the following pages:
Retirement age
| Retirement age
(1 min 09 s)
At what age can I retire? What impact will my retirement age have on my pension? |
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• Retirement is possible from age 55.
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• Early retirement is between ages 55 and 65. The amount of the pension could be reduced.
- For service before 2009, the reduction varies according to age and years of continuous service. The pension amount is not reduced if retirement is taken at age 57 or older and the sum of age and continuous service totals 85.
- For service from 2009, the pension is reduced by 4% per year missing to reach age 62.
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• As long as you remain employed by Desjardins Group, you can continue participating in the plan and enhance your pension until December 31 of the year in which you turn 71.
Normal pension characteristics
For service before 2013: -
• With a spouse upon your retirement: Life annuity, guaranteed 10 years, reduced to 60% and payable to spouse when retiree dies.
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• Without a spouse upon your retirement: Life annuity, guaranteed 15 years.
For service from 2013: -
• With or without a spouse upon your retirement: Life annuity, guaranteed 10 years.
Pension indexation
For service before 2013: -
• Annual indexation as of January 1 following retirement, based on the CPI, up to a maximum of 3% per year.
For service from 2013:
- • Indexation as of January 1 from age 65, based on the CPI, up to a maximum of 1% over a fixed period of 10 full years (increase applied on a pro-rata basis on the first and last year of indexation).
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