CCCC offers churches and Christian charitable agencies the opportunity to provide their employees with retirement income. Any Affiliate or Certified CCCC member organization is eligible to enrol its employees in this program.
The CCCC Employees Pension Plan (the Plan) is sponsored by CCCC, governed by a board of Trustees, and administered jointly by CCCC and Great West Life–one of the largest insurers in the country. The plan is registered with the Financial Services Commission of Ontario, Canada Revenue Agency and all provincial jurisdictions in Canada.
The Plan offers a number of benefits to your employees:
We provide support and resources to our participating employers to help you with any administrative requirements. Participating Employers have the following responsibilities:
The CCCC Employees Pension Plan is a money purchase pension ("defined contribution") plan which has been designed to accumulate employer and employee contributions. Accounts are credited with the full rate of return on the fund, less any related investment management and administration charges.
Eligibility includes pastors and other regular employees who are permanent full-time employees. It may also include part-time employees, when certain conditions specified in the Plan Text.
The employee's contributions can be set from 0% to 12% of earnings. The employer's contribution, from 5% to 18% of earnings. Additional voluntary contributions may be made by the employee. (Total of all contributions not to exceed 18%.)
Plan members have access to their accounts 24/7 by the internet and automated telephone service. They may view their account, make investment choices and update information online.
See our sample enrollment letter for all the steps needed to join.
Each member receives an annual statement which lists the current value of the member's holdings and pertinent member information. Members can view their account information online at any time.
A one-time enrolment fee of $150 per employer is the only direct cost. Ongoing administration fees are paid out of investment earnings.
The Trustees have engaged the services of PriceWaterhouseCoopers to conduct the annual audit and express an opinion on the financial statements of the CCCC Employees Pension Plan.
Recent financial statements for the Plan are provided below for your information.