When can I retire?

Retire when the time is right for you

Members in the CAAT Plan have a range of retirement dates to choose from. Members can retire at any time from age 55, up to the year they turn 71. If you have 20 years of service or more, you can retire as early as age 50. Flexible retirement dates mean you can customize your retirement, and retire when the time is right for you. When you retire, you receive a lifetime pension that’s paid to you every month for the rest of your life.

Retiring at age 65

The default retirement date is age 65. It is referred to as the "normal retirement date" and it is the last day of the month in which you turn 65. At age 65 your lifetime pension is unreduced, no matter how much or how little service you have. If you choose to retire when you reach age 65, it’s referred to as a ‘normal retirement’.


Retiring before age 65

If you retire before age 65, you will be taking "early retirement." If you retire early, you receive your lifetime pension, plus an additional payment called the bridge benefit, which is payable until you turn 65.

Your early retirement pension will be either:

  • Unreduced, or
  • Reduced

Unreduced early retirement pension

You qualify for an early unreduced pension as soon as you reach one of these ‘magic numbers’:
85 Factor: Your age + pensionable service = 85 or more
60/20 Rule: You are at least 60 years old with at least 20 years of pensionable service

Reduced early retirement pension

If you do not qualify for an early unreduced pension, your pension and bridge benefit will be reduced. The reduction factor is 3% per year (0.25% per month) for each year and month you are away from the earliest date you are eligible for an unreduced pension. This is a permanent adjustment to your pension payment and your bridge benefit.

Click here to learn more about how your pension is calculated

Different early retirement provisions apply to members who start their pension after being deferred members. Read Starting your deferred pension to learn more about these provisions.

Did you know? Seventy percent of Canadians retire earlier than originally planned. The number one reason for these early retirements is health-related. The CAAT Plan’s early retirement options give you flexibility and security to retire when the time is right for you, and provide a level of comfort in case you have to retire sooner than planned.


If you were an active member of the ROM Pension Plan on December 31, 2015, and are still an active member, the provisions that apply to your pension may be different than those outlined on this page. Visit Active members – formerly ROM Pension Plan members for details.


Retire after age 65

If you continue to work beyond age 65, your retirement date is postponed. Your pension keeps growing as long as you are working and contributing to the Plan. By law, you must start your pension by December of the year you turn 71, even if you choose to continue working.

Watch the on-demand retirement planning presentation to learn more about when you can retire.

“PRO” TIP

While you’re thinking about the best time to retire, take some time to review your most recent Annual Pension Statement to see what your pension was at the end of last year and confirm your early retirement dates.