Retirement
You have choices when it comes to retirement. Following changes to the BC Human Rights Code in 2008, you are no longer required to retire from the university at age 65. As such, it is important to understand how retirement will impact your benefits and income to help you make a decision on when and how you retire.
Eligibility
To retire from the university, you must meet the following criteria:
- minimum age 55
- hold a continuing (not term) position with UVic
- submit an official declaration of intent to retire from employment at UVic
Although you have a choice your personal retirement timeline, your decision may impact eligibility for benefits and/or pension.
Normal retirement is a retirement at age 65. Per Collective Agreements, normal retirement date varies by employee group:
- PEA, ME, Faculty, Librarians: June 30 following 65th birthday
- CUPE 951, CUPE 917, Exempt Support: end of the month following 65th birthday
Deferred retirement is a retirement later than your normal retirement date. Several benefits will remain unchanged until your retirement with the following exceptions if retiring later than your normal retirement date:
- Basic group life insurance will be reduced from 1.5x earnings to 1.0x earnings
- Long Term Disability (LTD) eligibility and coverage will cease at Normal Retirement date
- at age 65, eye exams become part of the provincial care program (MSP) and are no longer covered by UVic Extended Health benefits.
Under the Income Tax Act, an employee must begin taking their pension at the end of the year in which they turn 71.
Retirement checklist
While retirement is a personal choice, we aim to make the process as clear and smooth as possible for you. This checklist was created as a joint project between UVic HR and the UVic Retirees Association.- Access the Employee & Family Assistance Program for personalized legal advice or financial guidance while deciding.
- Use account or contact directly to request an official paper copy of your Statement of CPP Contributions to assist with financial planning.
- Attend a Pension Information Seminar, offered annually by Pension Services for those nearing retirement.
- Prepare a retirement letter and send to your supervisor; CC pensions@uvic.ca, benefits@uvic.ca, and payrollbenefits@uvic.ca. Consult your Collective Agreement or ME Terms & Conditions for appropriate notice requirements
- Contact UVic Pensions Office for pension details and available options. Email pensions@uvic.ca or phone 250-721-7030
- Review retirement benefits information
- Age 60 plus? Apply for 6 months prior to retirement date.
- Age 64 plus? If you did not receive a letter from Service Canada regarding automatic enrolment, you must apply in writing for the .
- Update your personal profile to include a non-UVic email address so we can still reach you.
- Check online Member Profile to use remaining coverage prior to its termination.
PEA, ME, Faculty, Librarians:
- Check your professional development account on Online Tools to use remaining allotments prior to retirement.
CUPE Locals 951 & 917, Exempt Support Staff:
- After your department has completed your Advice of Separation, contact the Payroll Office if applicable for Personal Sick Leave Surplus Account or remaining vacation time payout. Email payroll@uvic.ca or phone 250-721-7034.
- Join the UVic Retirees Association. Phone 250-472-4749)
- Review and/or enroll in the voluntary Extended Health and Dental plans available to UVic retirees within 60 days following your retirement date.
- Visit the ONEcard office after your retirement date for your UVic Affiliate card which will entitle you to ongoing privileges to the Athletics & Recreation Facilities and libraries.
- Celebrate your milestone: every year, typically in May or June, we honour are retiring faculty and staff members. Keep an eye on your inbox for details on how we’re commemorating this milestone with you.
Retirement benefits
Benefits terminate on the last day of the month in which you retire.
UVic does not administer Extended Health & Dental plans for retirees. However, your affiliation with the University grants eligibility for voluntary benefit coverage with preferred rates.
UVic recommends three options for voluntary retiree Extended Health and/or Dental care coverage.
Visit the for more information.
Non-insurance benefits:
Click through to see additional non-insurance benefits available to UVic retirees.
Per UVic Policy IM7200, your UVic email will be decommissioned when you retire; the continued use of UVic email for Emeritus retirees (faculty/librarians) is permitted under UVic Policy IM7200 and the UVic Emeritus Guidelines.
If you have been a member of the University Club for at least five years, you may apply to continue as a retired member for a reduced annual fee. Any UVic employee who would be eligible for a Regular membership and has not been a member before is eligible for a one year free membership! Please contact the University Club at 250-721-7933 for further information.
Staff between 55 and 59 years old: annual leave allotment will be pro-rated based on the number of months worked in your retirement year.
Staff aged 60+ are entitled to their entire leave allotment for the year in which they retire.
Any eligible vacation days not taken by your retirement date will be paid to you.
Pension
Pension is managed by UVic Pension Services. Their website has information for retirees specific to the pension plan(s) you are enrolled in.
UVic Retirees Association (UVRA)
UVRA is a volunteer group which depends on the efforts and suggestions from their members. The association will contact you about membership options following your retirement date.
Retiree celebration
Every year, normally in May, we come together to honour our retiring faculty and staff members. Don't let this special occasion pass you by! Keep an eye on your inbox in March for details on how we're commemorating this milestone.
To ensure you don't miss out on any retiree celebration updates, make sure to add
a non-UVic email to your personal profile today.