You do not have to make an immediate decision regarding your pension funds at the end of your appointment. You may defer your decision, allowing you to evaluate your personal financial situation before committing to a termination or retirement option.
You may elect to leave all or a portion of your funds in the FPP until you retire. In doing so, the funds remain tax sheltered and you continue to benefit from the lower management and administration fees under the Plan.
If you choose to leave your funds in the FPP, there are no forms to complete. However, you must select a retirement option(s) prior to December 1st of the calendar year in which you reach 71 years of age.