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Retiring from the Abbotsford School District?
Retirement brings many changes and involves planning. As a transition in the employee life cycle, we understand how important it is that you have the tools to plan your retirement. Human Resources can assist you with your planning and advise you on what entitlements you may be eligible to receive -- the District is committed to helping you create financial security in retirement.
You should contact the Pension Corporation (1-800-665-6770) when you are within a year of retirement for a pension estimate. Once your request is received, you will be sent a retirement kit containing everything you need to apply for your pension.
You may have the option to receive MSP, Extended Health and Dental coverage through your pension plan. For more information visit the website.
Visit Pensions BC Near Retirement Website for information regarding appropriate timelines and FAQ.
You may be eligible to receive the early retirement incentive plan based on your age, employment status and years of service with the district. Eligibility criteria is outlined within each collective agreement. Contact Human Resources for more information.
The group registered savings plan is a voluntary program available to eligible employees. You choose whether you want to participate, how much you contribute and how you want your contributions invested.
The group RSP provides you with a convenient way to supplement your income at retirement. Since contributions to the plan are tax deductible, you reduce your income taxes while you save.
All Teachers are eligible to join the plan. To join the plan, complete the enrolment forms which are available from the Human Resources Department.
When you retire, The Canada Pension Plan (CPP) Retirement Pension provides a monthly taxable benefit to retired contributors. Contact your local CPP office at least three to six months before your expected date of retirement. The CPP office will provide you with the necessary documentation to claim your pension. Visit the Canada Pension Plan website for more information.
The Old Age Security (OAS) Pension is a monthly benefit available to most Canadians 65 years of age who meet the Canadian legal status and residence requirements. Contact you local OAS office and apply at least three months before your 65th birthday. Visit the Old Age Security Website for more information.