Many Defined Benefit Pension Plans (DBPP) allow the employee to move a portion of their DBPP to a Locked-In Retirement Account (LIRA) and receive a portion as taxable income. These amounts will form the CV. 

If you choose to take your CV, you will leave the Pension Plan and not receive any further pension benefits. 

A decision to leave a pension plan must be very carefully considered. There are many factors involved that will affect different outcomes. Some important factors are the present and future value of all money you will receive, what investment returns you could earn, estate planning, as well as many other considerations.  

Ask your pension department or human resource division. They should be able to supply all details.

Talk to your Financial Advisor. Your advisor will need to provide you with several different comparative analyses to help you make an informed decision. Many personal factors need to be considered. If you are still unsure and require a second opinion, please feel free to contact our Group.