Quick Links

2013 Voluntary Retirement Program

The 2013 Voluntary Retirement Program is effective as of April 2, 2013. Participation in the Program will be open until noon, June 3, 2013, after which time no one may elect to retire in accordance with the 2013 Voluntary Retirement Program.

Eligibility

The 2013 Voluntary Retirement Program applies to all regular McGill University employees who are:

1)      Born on or before December 31, 1953 (e.g. those who would be 60 or more years of age on December 31, 2013);

2)      Paid exclusively from operating funds; AND

3)      MUNACA or SEU members, and M or Excluded employees (e.g. not term, casual or end-date employees). 

Retirement allowance

Employees who elect to retire in accordance with the 2013 Voluntary Retirement Program shall be offered a retirement allowance based on the annual salary for their regular position prior to retirement date, excluding overtime, stipends and one-time payments. The retirement allowance shall be equal to four (4) weeks of salary per year of service, but shall not be less than the equivalent of twenty-six (26) weeks of salary or greater than fifty-two (52) weeks of salary, irrespective of the age of the retiring employee.  A partial year of service will be calculated on a prorated, quarterly basis, rounded to the nearest full week and up to a maximum of four (4) weeks.

The document "Retiring Allowances - Fact Sheet" below provides more information concerning retirement allowances under this program.

Post-retirement benefits

Employees retiring in accordance with the 2013 Voluntary Retirement Program will be eligible for post-retirement benefits, as detailed below.

The retiring employee’s eligibility for short-term disability coverage and access to the employee assistance program shall end on their retirement date. Their eligibility for long-term disability coverage shall end on June 3, 2013.

The retiring employee may be eligible for McGill University’s post-retirement benefits plan, which consists of life insurance and health and dental plans, all of which may be amended from time to time and after the employee’s retirement. The retiring employee’s eligibility for coverage under the post-retirement benefits plan is as follows:

  • Employees hired prior to January 1, 2010 and born on or prior to December 31, 1955 are eligible for post-retirement benefits upon retirement, providing they maintain their group insurance coverage until retirement.
  • Employees hired prior to January 1, 2010 and born after December 31, 1955 are eligible for post-retirement benefits upon retirement if they:
    • retire on or after age 55;
    • have at least 10 years of continuous service with the University; AND
    • participated in the benefits plans for a minimum of 10 consecutive years on their retirement date.
  • Employees hired on or after January 1, 2010 are eligible for post-retirement benefits upon retirement, except for the dental care plan, if they:
    • retire on or after the age 55;
    • have at least 10 years of continuous service with the University; AND
    • participated in the benefits plans for a minimum of 10 consecutive years on their retirement date.
  • Retirees and their dependants making claims under the plans must remain residents of Canada.

To be eligible for the staff dependant tuition waiver, the retiring employee must have worked at McGill for at least five (5) continuous years as a full-time employee immediately before their retirement.

Pension plan benefits

Accrual of service and contributions under the McGill University Pension Plan shall cease on the retirement date.  The employee who elects to retire under the 2013 Voluntary Retirement Program may settle his or her pension account in accordance with current pension plan rules. 

Other amounts

Any accrued and outstanding vacation, as well as unpaid overtime due on their date of retirement will be paid to the retiring employee in the first pay period following the retirement date. 

Administrative rules

Employees who are eligible to retire under the 2013 Voluntary Retirement Program will receive a letter informing them about the program from the Associate Vice-Principal Human Resources.

Employees who retire under the 2013 Voluntary Retirement Program must signal their irrevocable intent to retire by signing the offer letter provided by the Office of the Associate Vice-Principal Human Resources and remitting it to that Office, to the attention of Valérie Parsons, Compensation Advisor, or alternately by email at Totalcomp [dot] hr [at] mcgill [dot] ca on or before June 3, 2013 at noon.  The employee must retire no later than August 31, 2013. The letter must also be signed by the employee’s immediate supervisor confirming the retirement date.

Employees who retire under the 2013 Voluntary Retirement Program cannot work for McGill University during the thirty-six (36) months immediately following their retirement date. This rule applies regardless of the manner in which they are hired (full-time or part-time basis, temporarily or contractually or as a self-employed person).

Voluntary Retirement Program Presentation

Retiring Allowances Fact Sheet