About Us

Plan History

The original Machinists Pension Plan was established in 1960 and renamed to Machinists Pension Plan, Lodge 692 in 1986. In 2000 the Machinists Construction-Shipyards Industries Pension Plan (formed in 1983 from the merger of Machinists Construction Industry Pension Plan and Machinists Shipyards Industry Pension Plan) merged with Machinists Pension Plan, Lodge 692. Following the merger in 2000, the Plan operated with two separate divisions until the end of 2016. As of January 1, 2017 all plan assets are pooled under a single trust fund, but there still remain some historical differences in how benefits are determined.  More information is available in the Plan History section of the Pension Plan Booklet.

Plan Management and Operation

The Machinists’ Pension Plan, Lodge 692 is funded under the terms of collective agreements negotiated between the International Association of Machinists and Aerospace Workers Vancouver Lodge No. 692 and various employers in the industry.

Board of Trustees

The Plan and related Trust Fund is managed by a Board of Trustees appointed by the Union. The Trustees are responsible for managing the funds and establishing the benefit levels and other Plan provisions, based on available funding and consistent with applicable legislation and the terms of the collective agreements.  The current Trustees are:

• B. Cordell Draayers (Chair)
• Reo Elkin
• Gordon Veller
• Roland Sturt-Smith
• Kelly Dressler

Trustees’ Mission Statement

The Trustees of The Machinists’ Pension Plan, Lodge 692 shall use all their individual and combined skills, to deliver targeted benefits to all plan members so that they are reasonably stable, while meeting all governing legislation. The Trustees shall act in a transparent manner in the best interests of and reporting to all members. To this end, the Trustees are committed to accepting relevant educational challenges, seeking expert, professional guidance, communicating with and acting consistently in the best interests of plan members.

Administration

The Trustees appoint and work with a team of professional advisors, including administrators, investment managers, investment consultants, actuaries, auditors and lawyers. The Trustees have appointed D.A. Townley as the Administrator to handle day to day administration of the Pension Plan. The Administrator operates under the overall direction of the Trustees.

D.A. Townley