Starting your retirement

Knowing how your pension is calculated, and how your personal and professional decisions may impact your pension benefit, you might be wondering when you can and should retire. This page explains how your age and eligibility service factor into the decision and how to start the retirement process.

Under UPP, you decide when to start collecting your pension.

The normal retirement date is the end of the month in which you reach age 65, but you can continue to work (and earn pension benefits) up to November 30th of the year you turn 71.

You can retire with an early unreduced pension as early as age 60 if your age plus your eligibility service equal at least 80 points. This is known as the “80 factor.” For example, if you were 62, you would need at least 18 years of eligibility service to qualify for an early unreduced pension (62 + 18 = 80 points). Because of the stipulation that you must be at least age 60 to retire early, a member aged 58 with 22 years of eligible service would not qualify for an early unreduced pension.

You can retire with an early reduced pension as early as the end of the month in which you turn 55. Your pension will be reduced by 5% for each year (prorated for partial years) that you are under age 65. For example, if you decided to begin your pension at age 62.5 with 15 years of eligibility service, your pension would be reduced by 12.5% [65-62.5] x 5% per year). The reduction reflects the fact that by choosing to start your pension at a younger age, you will probably receive your pension for a longer period. In general, your pension starts on the first day of the month following your retirement date.

You can postpone your retirement until November 30th of the year in which you reach age 71. After this date your contributions will stop and you must elect a retirement income option.

If you’ve earned a pension under a participating university’s prior plan, different early retirement eligibility rules and reductions might apply to your prior service. For more information and to get a personalized retirement projection, please contact your university pension administration team. You can read more about the path to retirement in the Member Handbook.


Learn more about your pension

This handbook summarizes the main features of your University Pension Plan Ontario (UPP) in simple terms

We answer top questions about your plan and our investing program
Better understand the key terms that make up your plan


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