Support staff - Retirement

• Attend retirement planning workshop

• Attend PSPP pension plan information session

• Access pre-retirement consultation and/or the financial consultation through the EFAP program

• Access the confidential estate planning organizer and/or attend estate planning workshop

• Utilize the Canadian retirement income calculator and the PSPP pension plan calculator

• Update pension and benefit beneficiaries

• Review the rules around your post-retirement benefit coverage

• Review post-retirement benefit provider options (i.e. SunLife, ARTA etc.) and bridge benefits (only if eligible)

• 3 months prior to retirement officially advise your Department/Faculty in writing of your intention to retire

• Contact HRS Pension and Benefit Services (your retirement application needs to be signed within 90 days)

• Update BearTracks with retirement contact information including home address and email address

Reduced duties leading to retirement

The University of Alberta offers this program to support staff as an option for transitioning into retirement. The program allows the employee the opportunity to take a partial leave without pay in the years immediately preceding retirement. For additional details and eligibility requirements, please see the Collective Agreement-Common Provisions-Article 19.

Please note: Each application must be approved by the Dean, Director, or Trust-holder and Human Resource Services. Once an agreement is concluded it becomes binding on the employee and the Employer.

Post-retirement benefit options

If you retire early, you may be eligible for bridge benefits until age 65. If you are not eligible for Bridge Benefits, your benefits coverage (including supplementary health and dental care, life, disability and other insurance; etc.) will end with retirement. Review the retirement rules surrounding your benefits coverage at ending employment: support staff. Review your post-employment benefits options at organizations offering retiree benefits.

Note: Alberta Health Services will contact you within 6 months prior to your 65th birthday regarding application for Alberta Blue Cross Senior's Benefits. Ensure Alberta Health Services has your up-to-date, current address.

Bridge benefits for support staff

Eligible staff who decide to retire early may elect to continue participation in several of the staff benefit programs during the period between the date of early retirement and the end of the month in which you will attain age 65. The employer premium costs for such benefits will be paid by the University to the same extent that they are paid for active staff members.

Eligibility for bridge benefits

• You must currently be working in a full-time regular or full-time non-established support position funded out of the University's operating accounts (including ancillary accounts)

• You must be at least 55 years of age, but less that age 65

• You must currently be a member of the Public Service Pension Plan

• You must have a minimum of 20 years of pensionable service with the University

For staff members unable to attend the How to Prepare Emotionally and Financially for Retirement online or in-person training course offered through the Learning Center, EFAP does offer a Pe-retirement planning session and 2 hours of financial planning. Here is the one pager for the pre-retirement planning, and the one pager for financial consultation.

For more information please visit PSPP Ready to Retire : https://www.pspp.ca/page/ready-to-retire - Includes a pension calculator, retirement planning, and pension option information.