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.
Visit the UBC Pensions website to learn more about your pension benefits upon retirement.
See below for specifics about planning resources available to members of the UBC Faculty Pension Plan.
Retiring represents a significant life transition that requires planning and preparation. Here’s what you need to know:
- Visit the UBC Pensions website to learn more about the pension options available to you when you retire.
- You have 31 days from your retirement date to enroll 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.
Health benefits after retirement
See the pension and retirement benefits for information on what happens to your benefits after retirement.
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 on Retirement 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 resources for faculty
UBC provides several resources to members of the UBC Faculty Pension Plan to support retirement, including counselling and workshops.
The Pension Administration Office offers individual information sessions on pension-related matters. To make an appointment, please call 604 822 3485. Further information on retirement as well as links to other retirement related sites can be found on the plan’s website. You can also use the pension calculator to estimate future account balances(s) and monthly annuity you may receive upon retirement from the UBC Faculty Pension Plan (FPP).
Faculty retirement process and options
Faculty wishing to retire must give written notice to the head of their academic unit well in advance of their intended retirement date.
Faculty retirement dates usually fall on June 30 or Dec. 31 following their notice date, unless otherwise agreed upon.
Retirement option for staff
There is a pre‐retirement reduced appointment agreement option in accordance with Policy H9 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.