Retirement planning

Retirement planning resources, along with basic information about benefits and life insurance considerations and options for staff and faculty.

Retirement and pensions

Retirement can mean different things to different people and can bring up a variety of emotions. As a transition in the employee life cycle, we understand how important it is that you have the tools to plan your retirement.

Retiring represents a significant life transition that requires planning and preparation. Here’s what you need to know:

• Visit UBC Pensions to learn more about the pension options available to you when you retire.
• You have 31 days from your retirement date to enrol in the optional Retirement and Survivor Benefit Program to receive extended health and dental coverage.
• You may want to convert your life insurance to an individual plan.
• The Employee and Family Assistance Program is available to offer counselling and support.

Normal retirement date

Your normal retirement date depends on your employee group.

If you're a member of the Academic Executive or Faculty, your normal retirement date is June 30 or December 31 following (or on) the date you turn 65.

For all other employee groups, your normal retirement date is the last day of the month you turn 65.

You may be able to work past your normal retirement date. 

Health benefits after retirement

See the pension and retirement benefits page for information on what happens to your benefits after retirement.

Life insurance

When you retire, you have the option of converting your life insurance from UBC's group plan to an individual plan. For more information, visit the Life Insurance Conversion page.

Your basic group life insurance, optional life insurance, and accidental death and dismemberment insurance plans expire on your last day of employment. You can convert one or more of these plans to individual policies so that you continue to hold insurance coverage.

Retirement planning for faculty

Learn about the resources and information available for faculty retirement and planning.

Reduced Work Policy (HR9) for staff 

In accordance with UBC’s Reduced Work Policy (HR9), staff members have the option to apply for a reduced workload leading up to an agreed upon retirement date. This will result in a reduction of volume and/or scope of work of up to 50%, and corresponding reduction in FTE, while retaining full pension for up to three years prior to retiring. An application under UBC’s Policy HR9 is voluntary and is subject to the staff member meeting the eligibility criteria outlined in the policy.