When you turn 65 and are receiving, or had received Extended Earnings Loss (EEL) benefits at any time; you are entitled to a one-time lump-sum retirement benefit. This benefit is based on five per cent of your total EEL benefits, plus interest. If you were a member of an employer sponsored pension plan (ESPP), the lump-sum payment is 10 per cent of your total EEL benefits, plus interest. Where appropriate, the retirement benefit may be paid to dependents of deceased workers.
Applications for the Retirement Benefit will be sent to eligible workers or known dependents.