Retiree benefits

Learn about what benefits you have as a retiree of the University of Waterloo 

Eligibility

Employees are eligible for post-retirement benefits (i.e., extended health, life insurance, tuition benefit) if they were participating in the benefits program for at least ten continuous years immediately prior to the date of their retirement and decided to commence an immediate pension from the University of Waterloo. Those employees who decide to defer their pension to a later date forfeit their eligibility for post-retirement benefits.  
 
Current coverage is as follows:
Life insurance Extended health
  • Flat benefit of $6,300 for those retiring on or after January 1, 2023
  • Amount is set at date of retirement
  • Within 31 days of retirement, conversion of group life insurance to an individual policy is available and may be of interest
  • Same coverage as for active employees with the exception of out of country coverage limited to 60 days per trip

Questions about coverage or claim assessments should be directed to Green Shield Canada (GSC) at 1-888-711-1119. 

To make changes to your extended health coverage (marital status, registration of dependents or student dependent status), please contact Human Resources at hrhelp@uwaterloo.ca or Human Resources reception at extension 45935. 

The dental benefit ceases at retirement. To find out more about dental coverage for retirees (not affiliated with Waterloo), please visit the Retirement Management Services website. The University of Waterloo does not sponsor or pay the premium associated with this coverage.

Retiree benefit maximum

The Pension & Benefits Committee reviewed the maxima corresponding with the extended health benefit provisions and approved the following changes effective January 1, 2023:

Benefit

Those who retired after June 6, 2000

Those who retired between January 1, 1996 to June 5, 2000

Those who retired prior to January 1, 1996
Annual Benefit Maxima Effective January 1, 2023

Out-of-Pocket Max - Single

$138

$138

$60

Out-of-Pocket Max - Family

$277

$277

$119

Hearing Aids

$811

$811

$709

Massage

$811

$811

$593

Chiropractor

$811

$811

$593

Naturopath

$811

$811

$593

Osteopath

$811

$811

$593

Physiotherapist and

Athletic therapist

$811

$811

$709

Podiatrist

$811

$811

$593

Private Duty Nurse

$24,583

$24,583

$11,829

Psychologist (including registered

social  workers and

psychotherapists)

$1,030

$1,030

$593

Speech Therapist

$811

$811

$709

 Green Shield Canada (GSC) benefit booklet for Retirees

In the Green Shield Canada benefit booklets, you will find more information relating to your extended health benefit coverage. Retirees can access their booklet through GSC everywhere.

If you cannot locate your benefit booklet, or it is failing to load, copies of the booklets are available here:

For those who retired after June 6, 2000 (PDF)

For those who retired between January 1, 1996 to June 5, 2000 (PDF)

For those who retired before January 1, 1996 (PDF)

 

Working beyond age 65

For Regular employees working beyond age 65, benefits will continue as highlighted below:

Age Change Pension plan Life insurance Sick leave Extended health Dental Long-term disability
Age 64.5 Same as active benefit Same as active benefit Same as active benefit Same as active benefit Same as active benefit No Coverage
Premiums cease 1st of the month 6 months prior to 65th birthday
Age 65 Same as active benefit Basic life (1x annual salary) continues at no cost to employee 

Additional life (2-6x's salary) is fully paid by the employee (optional premium rates apply)		 Same as active benefit Same as active benefit Same as active benefit No coverage 
Age 69 Same as active benefit Basic life (1x annual salary) continues at no cost to employee 

Additional life (2-6x's salary) is fully paid by the employee (optional premium rates apply)		 Maximum entitlement is 120 cumulative days.  

Staff USG 1-4 and CUPE: 90 cumulative days of sick leave up to maximum credited sick leave of 120 days		 Same as active benefit Same as active benefit No coverage 
Age 70 Same as active benefit Retiree life benefit applies Maximum entitlement is 120 cumulative days.  

Staff USG 1-4 and CUPE: 90 cumulative days of sick leave up to maximum credited sick leave of 120 days		 Same as active benefit, except out-of-country coverage is limited to 60 days per trip Same as active benefit No coverage 
Age 71 Contributions stop and pension must be put in pay December 1st of the year you turn 71 Retiree life benefit applies Maximum entitlement is 120 cumulative days.  

Staff USG 1-4 and CUPE: 90 cumulative days of sick leave up to maximum credited sick leave of 120 days		 Same as active benefit, except out-of-country coverage is limited to 60 days per trip Same as active benefit No coverage