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.
Retirement option for staff
There is a pre‐retirement reduced appointment agreement (.docx) option in accordance with Policy H9 (.pdf) that results in a reduction of volume and/or scope of work and corresponding reduction in work time while retaining full pension and other benefits for up to three years prior to a staff member’s retirement. A pre‐retirement reduced appointment agreement is voluntary and ends on a predetermined retirement date.