Some people find themselves returning to the workforce after they begin receiving their LAPP pension. If you are one of them, it is important to know that if you plan to work for a LAPP employer, you must experience a break in service between leaving your former job and starting your new one.
There is nothing to prevent you from getting paid for a job while you also receive pension payments. The amount of pension you receive will not change.
If you go back to work for any LAPP employer after starting your LAPP pension, you will not be an active member in the Plan. You cannot be receiving a LAPP pension and contributing to the Plan at the same time. Your prospective employer's Pay & Benefits Representative can help you if you have questions about how this might affect your take-home pay.
If you are working while receiving your LAPP pension, there may be tax considerations to keep in mind.
If you have income from other sources, such as government pensions or working during retirement, you may request that additional tax be taken off your LAPP pension payment to avoid owing money at tax time. If you want to increase the amount of tax deducted from your pension, you can send in an updated TD1 form or contact us.