Thinking of Retiring Soon and you are 58 or over?
The date to give notice of your retirement and participate in the retirement allowance program is December 31. The details of the retirement allowance program are found in Appendix F of the collective agreement-the program provides a retirement allowance of $20,000 to $100,000 if you provide irrevocable notice to retire. The amount of the allowance depends on your age at retirement and the number of years’ notice you provide.
If you are thinking of retiring, we encourage you to contact the pension benefits office and request a statement of retirement benefits. This statement, which is provided upon request, gives you information about your expected monthly pension given your exact age at retirement, and an estimate of the lump sum payment you would receive if you choose to take your money out of the UM plan. Since it takes up to six weeks for the pension office to generate your statement, please contact them as soon as possible.
Contact information is below.
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