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 jointly by the Office of the Provost and Vice President Academic and the UBC Faculty Association for members aged 60 or older. Spouses and partners are welcome to attend. Currently, the seminars are facilitated by Aon Hewitt Consulting who are experts in retirement planning and who cover all aspects of retirement. 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. You will receive notice by email about future seminars.
Reimbursement for Retirement Counselling
UBC will reimburse members for retirement counselling from a UBC-approved financial consultant up to a maximum of 3 hours ($750 limit) per member. 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:
- Continuing Studies
- Life and Career Centre
- UBC Association of Professors Emeriti Report of Preparation for Retirement Committee
UBC’s Employee & Family Assistance Program providers, Human Solutions, also provides a Pre-Retirement Planning Service 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:
- check benefits eligibility for existing faculty post-NRD
- check benefits eligibility for existing faculty post age 71
If you are thinking about retirement, you should review the information and provisions of the Retirement and Survivor Benefits Program.