- A pension fund is a legal trust which provides retirement benefits for employees and eligible families covered by the fund. The Carpenters Union requires employers of employees under a collective bargaining agreement or written agreement to make contributions to the Carpenters Union pension fund.
- Once a member of the Carpenters Union retires, they are placed under restrictions for the type and amount of work they can carry out before losing their retirement benefits. Retirees under age 65 cannot take part in union-endorsed work of any kind, while those age 70½ or older are permitted to complete any work in any geographic area.
- To take up their retirement benefits, members of the Carpenters Union are required to submit a written application and supporting documentation up to 90 days before retirement is planned to begin. Included in supporting documentation is proof of age, which can include a birth certificate, passport or naturalization certificate.