Pension and benefits information for retirees is well documented in the University’s Pension & Benefits Booklet (available on the HR Benefits web page). But there’s a lot else about retiring that isn’t captured in Human Resources’ documentation. We’ve tried to cover as much as we can here.
What you need to know
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You might be able to reduce your workload by up to 50% in the lead-up to retirement, provided you set a firm date.
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You can exchange one week of vacation (PDF) for an increase in salary (a 2% increase if you give three years’ notice; proportionately less with less notice). In addition to the extra cash now, this generally produces an increase in your annual pension payments.
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You get your full professional expense amount (FPER) for the fiscal year in which you retire, even if you are only working for part of it. Remember: You can use this for expenses carried forward from previous years.
- You are automatically granted the title of professor emeritus/emerita (PDF) if you’ve worked here for 15 years (lecturers included).
Where to find more information
- MyPENSIONinfo, Waterloo's online self-service pension estimator
- The Human Resources website:
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Retirement (covers procedures and pension calculation)
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Pension (also covers pre-retirement programs)
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Retiree benefits – also see the benefits booklet on the HR website
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