These are key components that are used in the calculation of your pension. Living outside of Canada. Find out if your new partner is eligible for the survivor benefit under your pension plan. Find the most current indexing rate used to calculate annual pension increases.

The amount of your monthly pension will be different depending on the date you choose to start your pension. Learn about how a divorce or separation may affect your pension benefit. Pension information you will need when leaving the federal public service. Find information about your lifetime pension and bridge benefit, and their relation to Canada and Quebec Pension Plans. Find information about your pension benefits under the public service pension plan as a newly retired public servant.

In total, this involves payments of approximately $29 billion annually. The early retirement reduction amount is 3% per year multiplied by the lower number of: Here is an example of how early retirement reduction is calculated: In this example, if the member waited to start their pension until age 65 (the normal retirement age in the Plan) or reaching 85 points, their unreduced pension would be $1,000 per month ($12,000 annually). No. First Name . The Public Service Pension Advisory Committee advises the President on the administration, design and funding of the benefits and on other pension-related matters referred to it by the President. We're here to help you understand those options. In this situation, you don't have to stop working for your PSPP employer, but once you start receiving a pension from PSPP, you no longer contribute to the Plan. Pension plan provisions in place until December 31, 2012 for retired members and their dependants. Retiring from the Public Service of Canada Telephone Nos: 1 800 561-7935 (Toll Free - All regions of Canada and Continental USA) (506) 533-5800 (Outside Canada – collect calls accepted) (506) 533-5990 Telecommunication Device for the Hearing Impaired (506) 533-5989 Facsimile No.

You must start your PSPP pension no later than December 31 of the year in which you turn 71. The roles and responsibilities of each organization are as follows: Association of Professional Executives of the Public Service of Canada | Association professionnelle des cadres supérieurs de la fonction publique du Canada.

You may have the option of starting your pension earlier than age 55 if you become disabled and stop contributing to PSPP. If you are retiring or resigning Step 5. Your final monthly pension also depends on the pension option you choose and if you choose to coordinate your pension. Find out if your new partner is eligible for the survivor benefit under your pension plan. Your retirement date can have an effect on the amount of pension you receive, as outlined on this page.

150 - 93.75 = 56.25 hours that you must pay back when you retire; If you are retiring or resigning Step 4. Getting married/reaching common-law status, Benefits for retired members: Plan members on or before, Contact the Government of Canada Pension Centre. "Normal retirement age" in the Plan is 65 years old, but you can retire as early as your 55th birthday or as late as the end of the year in which you turn 71. If the total equals at least 85 points, you're entitled to an unreduced PSPP pension as early as your 55th birthday.

Public Service Alliance of Canada - NCR.

In situations where there is a difference between the information contained in it and the official information you receive from the Government of Canada Pension Centre, the latter will take precedence. Note. Additional Retirement Resources that May Be of Interest*. The Pay Centre does not require a copy of this form. Join Our Mailing List. Your selected date will determine your age at retirement and may impact your highest average salary and how much service you’ve accumulated in the Plan at retirement. You can start receiving your pension as early as age 55 and still receive an unreduced pension if your age at retirement plus your years of …

Choosing a retirement date can involve many important decisions and options. This document was developed by APEX in summer 2018. Even though APEX updates the document regularly, it is important to always verify with the Government of Canada Pension Centre before making any decisions.

For enquiries, contact us. Divorce or separation. Once an employee has proceeded on retirement and terminated their Email * Are you a Member . Topics . Verify that your contact information is up to date in the Human Resources Management System. Last Name . The earliest a vested PSPP member can begin their pension is age 55. Through its pay and pension services, Public Services and Procurement Canada’s Pay and Pension Services for Government Employees ensures that federal government employees and retired pension plan members receive their pay and pension benefit payments accurately and on time.

The latest version (2019) of the PSAC publication, “Retiring from the Public Service of Canada: Some Useful Tips” is now available.