Termination

When a member leaves their job before they are eligible for an immediate retirement pension, that is considered a 'termination'. The benefit the member receives depends on the amount of service at termination, and their age.

A non-vested member has less than 2 years of Plan membership or pensionable service, and is entitled to a refund of their contributions plus interest.

A vested member has more than 2 years of Plan membership or pensionable service, and is entitled to a variety of different options, including a  commuted value or a deferred pension.

Members who are 50 and under age 55 and have more than 20 years of pensionable service are also entitled to an immediate pension. Starting in 2013, these members will no longer be able to take their commuted value out of the Plan.

Forms

Termination Benefit Application

Tools

Member's Pension Estimator - This member-focused pension estimator will help members easily estimate their future pensions and model a variety of scenarios

Resources for members

Leaving your job before retirement?

Pamphlet: Terminating employment

Pamphlet: Retiring early: the 50/20 option