The normal retirement age depends on the type of pension plan you are enrolled in. Some pension plans offer an early retirement date. Details can be found in the plan documents.

Providing notice

Each employment group has their own notice timeline so if you are considering retiring or have decided on a date, review the recommended notice periods for your resignation. As much notice as possible is ideal, as there should be time for knowledge transfer and other replacement planning.

Depending on which pension plan you are enrolled in, your pension calculations and pension options may differ. The best steps to take to determine your pension income, plan, and discuss how you can start receiving your pension is:

1. Review your pension plan summary for the plan that you are in. If you are unsure which pension plan you are in, review your Benefits Summary in PAWS.
2. Review Pension Plan at a Glance. This has information about your plan, planning information for retirement and much more.
3. Review additional pension information if you are in the Money Purchase Plan in your MySunLife account portal.
4. Contact the Pensions Office to discuss your retirement options, income and steps to get to your retirement date.

• Retirement Income

Extended Health Care and Dental

Coverage for you and your dependents will cease the date your employment ends. You have 90 days from the date of termination to submit eligible health, dental, health spending account and personal spending account claims incurred prior to and including your termination date. Any claims submitted after 90 days will not be paid.

• Converting benefits

Other Benefits and Programs

All other benefits and programs with the University of Saskatchewan will end on your retirement date.

If you continue to work past your normal retirement date, you will continue making contributions to your pension plan until the earlier of your actual retirement date or November 30 in the year that you turn 71.

Pension

If you continue to work past your normal retirement date you can either defer your pension while you continue to work or start your pension and receive pension income.  

To review your pension options you can contact the Pensions Office or review your pension plan summary.

Working past the age of 71

If you continue working past the age of 71, you are required by law to begin accessing your pension. Under the Income Tax Act, the latest you can defer receiving your pension is the end of the year in which you turn 71.

If you are interested in accessing long term disability coverage, please contact an external insurance provider to acquire coverage that will suit your personal needs.

Working past the age of 71

The other benefits as listed above will end with the age maximums or continue for those without a maximum.

The U of S Employee and Family Assistance Program (EFAP) offers counselling, support and resources to help you plan for retirement and make better-informed spending, saving and debt management decisions. 

• Employee and Family Assistance Program

The University of Saskatchewan Retirees Association offers a way for retirees to continue a meaningful relationship with the University.

The Association hold several events throughout the year including:

• lunch and learns
• spring BBQ
• awards banquet and AGM

The association is open to include all who have worked at the University (including its federated and affiliated colleges and research institutes) for at least 6 years and have reached age 55 and have retired, including members from the dissolved non-Academic Retirees Assocation.

• Join the retiree association