McGill.CA / Human Resources / Pensions

Retiring

PDF icon Steps to retire 

If you're considering retiring, the following checklist will help walk you through the process, and ensure that no important steps are missed:

  1. The employee provides notice of retirement. 
    • For administrative and support staff or trades: inform your immediate supervisor as soon as possible (minimum 2 weeks before retirement date)
    • For academic staff: Refer to regulations or the Academic Personnel Office. 
  2. Area processes retirement in Workday (refer to Termination & End Additional Job - Job Aid - Under Staffing, Termination - reason = retirement).  Any outstanding or accrued vacation will be calculated and payment arranged.
  3. Remember that an employee's retirement date is his/her last working day (not the day after).
  4. The employee may wish to attend the pertinent information sessions, watch a video capsule or attend one of PDF icon Sun Life's Financial Wellness Webinarson topics such as retirement, settlement, decumulation, etc., to learn more. 
  5. The employee may wish to read the PDF icon Retirement Planning Guide prepared with Sun Life Financial.  This guide will provide the employee with additional information on the steps to retire, the settlement options available, a retirement income roadmap as well as other useful information to assist them.
  6. If the employee is a member of Part A (hybrid segment) of the McGill University Pension Plan who is 55-65 years old, within 6 months of retirement, the employee needs to provide Sun Life with their marital information before a settlement package can be issued.
  7. The employee consults pension information on the Sun Life Financial website including the PDF icon Retirement Planner. Then, following receipt of a settlement package from Sun Life, he/she chooses a settlement option(s) or defers settlement.
  8. The employee should familiarize themselves with the post-retirement benefits for which they may be eligible, and the services available to them (below). 
  9. If eligible, the employee then elects post-retirement benefits coverage. 
  10. You can sign up for courses in the McGill Community Lifelong Learning program within the McGill School of Continuing Studies. This program is a community of mature learners emphasizing peer learning through active participation. 
  11. You may join the McGill University Retiree Association (MURA), which will help you remain connected to a community of McGill retirees. All retired McGill academics and librarians are invited to join MAUT-Retirees who offer, among other activities, scholarly lectures and academic events.

Programs and services for retirees with post-retirement benefits

As a retired employee, you still have access to certain services and programs at McGill.  For example:

  • You get to keep your ID card, which gives you continued access to McGill libraries and other facilities on campus. 
  • You benefit by paying the staff rate when signing up for a membership in the Athletics Complex and Fitness Centre. 
  • You have unlimited access to your email account (first.last [at] mcgill.ca) and to personal and employee menus in Minerva.  For more information, please refer to:  What IT services can I access after I leave McGill?
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