Eligibility for Retirement

You are eligible to retire on the first day of any month after your 55th birthday, provided:

  • Your contract of employment has terminated;
  • You are not receiving disability payments from the Teachers’ Long-Term Disability Plan; and
  • You have at least one year of eligibility service.

You may retire earlier than age 55, if you have 30 or more years of eligibility service and you meet the above requirements.

July 1 Retirement – If You Meet Age Requirement by December 31

If you meet the service requirement to retire and receive a pension on June 30, and you will meet the applicable age requirement by December 31 of the same calendar year, you are eligible to retire on July 1 of that year. If you elect to retire on July 1, you will receive the benefit to which you would have been entitled if you had met both the age and service requirements on June 30.

If you choose not to retire effective July 1 and render teaching service in the fall of that year and then cease to teach, you will not be eligible for retirement until you satisfy the age requirement.

No Maximum Age Requirement

There is no maximum age – such as age 65 – at which you must terminate your employment. However, the Canada Revenue Agency requires that the latest you can start receiving your pension is December of the year in which you turn 71, even if you are still employed.

Eligibility for an Unreduced Pension

You are eligible to receive an unreduced pension when you retire, if you meet one of the following requirements:

30 Years of Eligibility Service

No minimum age

Age + Eligibility Service = 85

Minimum age 55

20 Years of Eligibility Service

Minimum age 60

Age 65

At least one year of eligibility service

For information about how eligibility service is earned, go to Types of Service.

If you have qualifying service, you may be eligible to receive an unreduced pension earlier than stated above. Contact the STRP for more information.

Early Retirement Reduction

If you elect to retire before you are eligible for an unreduced pension, the following reductions will be applied to your benefits to reflect your early retirement date.

Benefits Earned Reduction Applied
Benefits earned up to June 30, 2015 0.25% per month from early retirement date to date eligible for an unreduced benefit.  
Benefits earned after June 30, 2015 0.50% per month from early retirement date to date eligible for an unreduced benefit.