Working Past Age 65

If you decide to continue working at UBC after you turn 65, you also need to decide whether you want to begin receiving your UBC Faculty Pension, UBC Staff Pension or BCGEU Childcare Pension (if you are a childcare worker while you are still working). As described in this section, this decision impacts your eligibility for various benefits.

If you work past 65 and defer receiving your pension, you can continue accessing your benefits, with only a few changes in coverage. Under the Income Tax Act, the latest you can defer receiving your pension is the end of the year in which you turn 71.

If you work past 65 and decide to begin receiving your pension, you can no longer access the majority of benefits you were eligible for as an active employee. You may still be eligible for other benefits.

Although your decision to access your pension impacts your eligibility for benefits, there are some situations where you can access pension benefits without an impact:

  • You can withdraw funds that you voluntarily contributed to your UBC Faculty Pension Plan or BCGEU Childcare Pension, or any amount that you transferred to these plans from another registered plan.
  • If you are working past 65 and you decide to receive your Canada Pension Plan benefit, you are still eligible for the same UBC benefits you are eligible for as an active employee.

What is my normal retirement date?

Your normal retirement date depends on your employee group.

If you are a member of the Academic Executive or Faculty, your normal retirement date is June 30 or December 31 following (or on) the date you turn 65.

For Staff, your normal retirement date is the last day of the month you turn 65.

What happens to my benefits if I work after my normal retirement date?

Your access to benefits depends on whether you choose to receive your UBC Faculty Pension, UBC Staff Pension or BCGEU Childcare Pension (referred to as pension going forward) while you are working or if you choose to defer it. The maximum length of time you can choose to defer your pension is the end of the year in which you turn 71.

This section describes two scenarios:

  • Deferring your pension while you continue to work past your normal retirement date; and
  • Deciding to access your pension while you continue to work past your normal retirement date.

I will defer my pension while I continue working

If you choose to continue to work past your normal retirement date and do not access the funds in your pension account balance, you will continue to receive your benefits, in a modified form. (You can still access funds in your pension account that you voluntarily contributed to your UBC Faculty Pension Plan or BCGEU Childcare Pension, or any amount that you transferred to these plans from another registered plan, without an impact on your benefit eligibility.)

You will continue to receive the modified benefits described below until you begin accessing your pension account balance, either voluntarily or at the end of the year in which you turn 71, which is the age you must start receiving your pension in accordance with the Income Tax Act.

Medical Services Plan

Your MSP coverage will continue under the terms of the Plan.

Extended Health, Dental and Employee and Family Assistance Program

Your Extended Health, Dental and Employee and Family Assistance Program coverage will continue under the terms of the Plans.

Long-term Disability (Income Replacement Plan or Disability Benefit Plan)

Your Long-term Disability coverage will have ended six months before your normal retirement date (four months for CUPE 2950 employees).

Basic Life Insurance

Your Basic Life coverage will be reduced from two times your annual basic earnings to one times your annual basic earnings. Learn about the option to convert your reduction in Basic Life coverage to an individual plan.

Optional Life, Optional Accidental Death and Dismemberment (AD&D) –Employee

Your Optional Life and Accidental Death and Dismemberment coverage will continue under the terms of the Plan.

Optional Life, Optional Accidental Death and Dismemberment (AD&D) – Spouse

Your spouse’s Optional Life and Accidental Death and Dismemberment coverage ends on your normal retirement date. Learn about the option to convert your spouse’s Optional Life and AD&D coverage to an individual plan.

Group Pension Plan

Your UBC Pension Plan or BCGEU Childcare Pension Plan remains in place under the terms of the Plan and applicable legislation.

Sick leave

There are no changes to your ability to access short-term sick leave.

Unpaid leave

If you are unable to perform your duties because of illness or injury and you have used up your short-term sick leave bank, you may take an unpaid medical leave of absence. During your unpaid leave of absence, you can choose to maintain some or all of your benefits (including your pension) at your own cost.

There are two exceptions:

  • Your benefits and pension can be maintained for up to 24 months only. If you wish to maintain this coverage beyond 24 months, contact Human Resources, who will request an extension of coverage from Sun Life.
  • Your Extended Health out-of-province/country coverage is reduced to 60 days of coverage from the date you leave your home province (previously 365 days).

Professional and personal development benefits

If you are eligible for professional development funds and the Tuition Waiver, you can still access these benefits if you work beyond your normal retirement date.

Please note that BC residents who are citizens or permanent residents of Canada and who are 65 and older can register directly with Student Services for courses with full waivers for application, tuition and student fees. In this case, you do not need to request a Tuition Waiver.

Eligible members of Faculty and the Academic Executive employee groups can also continue to access the Tuition Waiver for Dependent Children.

I want to access my pension while I continue to work

If you choose to continue to work past your normal retirement date, and, at any time before you turn 71, you decide to access your pension, you are no longer eligible for UBC benefits and your coverage will end, as described below.

If your group benefit coverage is ending because you have elected to access your pension while you continue to work at UBC, you might want to join the University’s Retirement and Survivor Benefits Program. This program provides optional retirement benefits (Extended Health, Dental, Employee and Family Assistance Program and Medical Services Plan). You must pay monthly premiums as part of this Plan and you must apply 31 days after your active benefits coverage ends.

Here’s how your benefits will be affected if you choose to access your pension while continuing to work at UBC beyond your normal retirement date:

Medical Services Plan, Extended Health, and Dental

Your MSP, Extended Health and Dental coverage will end at the end of the month before the day you elect to access your pension plan account balance. For example, if you access your pension on May 1, your coverage will end April 30.

Employee and Family Assistance Program

Your Employee and Family Assistance Program coverage will end three months from the day you elect to access your pension plan account balance. For example, if you access your pension on May 1, your coverage will end July 31.

Long-term disability (Income Replacement Plan or Disability Benefit Plan)

Your Long-term Disability coverage will have ended six months before your normal retirement date (four months for CUPE 2950 employees).

Basic Life, Optional Life, Optional Accidental Death and Dismemberment (AD&D) for Employee and Spouse

Your Basic Life, Optional Life and Optional Accidental Death and Dismemberment (Employee and Spouse) coverage will end at the end of the month before the day you elect to access your pension plan account balance. Learn more about the option to convert your Life coverage to an individual plan.

Group Pension Plan

Your UBC Pension contributions made by you and UBC will end and you will begin receiving benefits under the terms of your pension plan and applicable legislation.

Sick leave

There will be no changes to your ability to access short-term sick leave.

Unpaid leave

If you are unable to perform your duties because of illness or injury and you have used up your short-term sick leave bank, you may take an unpaid medical leave of absence.

Professional and personal development benefits

If you are eligible for professional development funds and the Tuition Waiver, you can still access these benefits if you work beyond your normal retirement date.

Please note that BC residents who are citizens or permanent residents of Canada aged 65 and older can register directly with Student Services for courses with full waivers for application, tuition and student fees. In this case, you do not need to request a Tuition Waiver.

Eligible members of Faculty and the Academic Executive employee groups can also continue to access the Tuition Waiver for Dependent Children.

What happens to my benefits once I turn 71?

If you continue working past the age of 71, you are required by law to begin accessing your pension. You are no longer eligible for UBC benefits and your coverage will end as is described in the section above for accessing your pension account balance while working. You will continue to be eligible for sick leavevacation and leaves and professional and personal development benefits.

More information

For more information, please see the Letters of Agreement for your employee group below. Note there is no Letter of Agreement for the BCGEU Childcare and Farm Workers employee groups.

If you are an active Faculty member working beyond your Normal Retirement Date, your benefits will change as per  Article 7.12 of Part 2 of the Collective Agreement (salary & economic benefits).