Planning for Retirement

The University provides several resources to support retirement.

Retirement Counselling, Workshops & Resources

For Members of the UBC Faculty Pension Plan

The Pension Administration Office offers individual information sessions on pension-related matters. To make an appointment, please call 604.822.3485. Further information on retirement as well as links to other retirement related sites can be found on the Plan’s website. You can also use the pension calculator to estimate future account balances(s) and monthly annuity you may receive upon retirement from the UBC Faculty Pension Plan (FPP).

For Members of the Faculty Association

Retirement Planning Seminars

These engaging and informative full day seminars are offered to UBC Faculty Association members aged 55 or older. Spouses and partners are welcome to attend. The sessions provide an overview of transition and lifestyle changes in retirement and how you can plan for them, financial and legal aspects of retirement and effective tax strategies to build your family income stream. Invitations are emailed out twice a year to Faculty Association members.

Reimbursement for Retirement Counselling

UBC will reimburse members for retirement counselling from a financial consultant up to a maximum of 3 hours ($750 limit) per member.  The financial consultant must have a designation or degree as follows:

  • Actuary
  • Certified Financial Planner (CFP)
  • Certified General Accountant (CGA)
  • Chartered Accountant (CA)
  • Lawyer
  • Registered Financial Planner (RFP)

Please note that as this is a non-taxable benefit the counselling must be specific to retirement and retirement planning. For more information and to request reimbursement, please use the Retirement Counselling Reimbursement Claim Form.

Financial Planning Lectures

In addition, the Faculty Association in conjunction with UBC Continuing Studies offers a financial planning lecture series every spring. Contact the Faculty Association for information about these lecture series.

For All Faculty

Other courses, programs or resources for planning for retirement are offered by the following:

UBC’s Employee & Family Assistance Program provider, Shepell, also provides retirement planning services and general financial counseling.

Moving to or Reducing Your Part-Time Status

You may wish to transition into retirement over an extended period of time. Moving to or reducing your current part-time status may provide for an extended transition. Please see Easing into Retirement for more information.

Healthcare & Other Economic Benefits

If you continue to work past your normal retirement date (NRD) (the June 30th or December 31st following your 65th birthday), you should consider what healthcare and other economic benefits will be in place for you while you are still working. Please note that if you take your pension while still working past your NRD, your benefits and pension will cease.

For a quick overview, see Benefits Timeline Pre and Post 65 (PPT).

For more information:

If you are thinking about retirement, you should review the information and provisions of the Retirement and Survivor Benefits Program.

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