Retirement

The most up to date info on the pension can be found here: https://www.nstpp.ca/ There is a direct link to the Pension Review Panel and an email address to send your concerns directly to those on the panel.

This is referred to as the Flexible Pension Option that is available only to Teachers' Pension Plan members. There are some rules:

i. Approval by the employee’s manager

ii. Option is available for a maximum of two years

iii. Must have worked the 36 months before the period of reduced service

iv. The salary during the period of reduced service must be less than the salary in the previous year with a minimum percent worked of 40%

v. Cannot apply immediately following a deferred leave

vi. Contact the HR representative on your campus for the application forms.

The best place to find info with respect to how much you will get pension wise is here:

https://www.nstpp.ca/members/preparing-retirement

The best date if you are thinking of retiring in the summer, is July 1st. Taken from the retirement guidelines: “Faculty considering retirement at the end of the academic year may want to consider retiring July 1st. You will be paid out your vacation to August 14th on your last pay (the first pay of July) and three pension payments will be deducted to give you credit for the full academic year and your first pension payment would start the end of July. If you choose September 1st, you will only be paid until August 14th and wouldn’t receive your pension payment until the end of September.

Yes. There are some coverages that will continue if you pay the premiums. See document “changes in coverage at age 65”