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). Any outstanding or accrued vacation will be calculated and payment arranged.
- Remember that an employee's retirement date is his/her last working day (not the day after).
- The employee may wish to attend the pertinent information sessions, watch a video capsule or attend one of Sun Life's Financial Wellness Webinarson topics such as retirement, settlement, decumulation, etc., to learn more.
- 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.
- The employee consults pension information on the Sun Life Financial website including the Retirement Planner. Then, following receipt of a settlement package from Sun Life, he/she chooses a settlement option(s) or defers settlement.
- The employee should familiarize themselves with the post-retirement benefits for which they may be eligible, and the services available to them (below).
- If eligible, the employee then elects post-retirement benefits coverage.
- 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.
- 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?