Steps to take 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:
- The employee provides notice of retirement.
- Area processes retirement in Workday (refer to Termination & End Additional Job - Job Aid - Under Staffing, Termination - reason = retirement)
- Remember that an employee's retirement date is his/her last working day (not the day after).
- The employee may wish to attend pertinent information sessions on topics such as retirement, settlement, decumulation, etc., to learn more.
- The employee should familiarize themselves with the post-retirement benefits for which they may be eligible, and the services available to them (below).
- The unit HR representative completes a notice of status change, and forward it to central HR. They will need to determine whether there is any outstanding vacation pay and arrange payment if required.
- If eligible, the employee then elects post-retirement benefits coverage and returns completed forms to HR.
- The employee consults pension information on the Sun Life Financial website. Then, following receipt of a settlement package from Sun Life, he/she chooses a settlement option(s) or defers settlement.
- You can explore topics of interest for personal enrichment and for life transitions, or gain practical skills to apply to daily life. PRIZMA courses and events are held on and off campus, with facilitators drawn from an extensive pool of academic, artistic and professional talents.
- 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.
- If you haven’t settled your pension account and if you are a member of the McGill University Pension Plan (MUPP), you can attend information sessions. You can also attend the annual meeting organized by the Pension Administration Committee.
- You may join the McGill University Retiree Association (MURA), which will help you remain connected to a community of McGill retirees.
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.