Pensionable age is specified by the pension plan and can vary from plan to plan.

Pension payments cannot be split between spouses, except in the case of a court ordered split, due to separation or divorce.  Due to the recent federal government announcement regarding pension income splitting, this is less important.

The pension adjustment (PA, reported on the T4) reduces the amount that the employee can contribute to an RRSP.

Employer or plan sponsor contributions are not taxable to employees.

Pension benefits will be paid out (usually in monthly payments) over the lifetime of the employee after retirement. 

If there is a spouse, then the plan must be set up to continue payments to the spouse upon death of the member, unless the spouse has signed a waiver.

The amounts to be contributed to the plan are specified in the plan contract.

The retirement income of the employee will depend upon how much has been contributed to the plan, and how well the investments in the plan have done.

The maximum amount of contributions to the plan for each employee is restricted by the Income Tax Act.

Employee contributions are tax deductible.

Many plans allow members to choose their own investments.

Contract negotiations could reduce future contributions, but won't change the amount already in the plan for each employee.