Audit, Financial & Scientific Group

Early Retirement Incentive: Retirement deadline

Published | Last updated 4 hours ago

We want to share important information about the Early Retirement Incentive (ERI), including the deadline to retire with an unreduced pension.

January 19, 2027, is the end date of the ERI program and the latest possible retirement date under the initiative. To receive an unreduced pension, your last day of employment must be no later than January 19, 2027, and the Pension Centre must review and approve your ERI application before your retirement date.

We previously understood that employees could submit a retirement date of January 19, 2027, as late as January 18, 2027. We have since been advised that the application must be reviewed and approved before the retirement date. This means employees may need to submit their application well in advance of their planned retirement date. 

If your application is approved after your retirement date, you may not qualify for an unreduced pension under the ERI. There is no guarantee that penalties can be waived or that management will allow you to change your retirement date. This could have significant financial consequences.

What you need to know

The Pension Centre recently provided the following information:

  • Start the process early. To clarify, January 19, 2027, is the end date of the Early Retirement Incentive (ERI) program and the latest possible retirement date under the initiative. To retire under the ERI program and receive an unreduced pension, an employee’s last day of employment must be no later than January 19, 2027. In addition, the Pension Centre must review and approve the employee’s ERI application before their retirement date and no later than January 19, 2027.
  • Submit all required information. Employees considering retirement under the ERI are encouraged to complete all required steps as early as possible to allow enough time for eligibility review and application processing. This includes working with their manager and organization to ensure that all required documents are provided to the Pension Centre, including a copy of their manager’s acceptance of their resignation. Employees must also provide any information and documentation required directly from them, such as direct deposit information and other retirement forms, and for contact the Pension Centre to begin the retirement process. Employees are encouraged to begin this process at least 3 months in advance. Those who have not yet started should take action as soon as possible.
  • Allow time for processing. We cannot provide a specific timeframe between an employee advising the Pension Centre of their intended retirement date and receiving confirmation of ERI eligibility, as processing times vary depending on individual circumstances and application volumes. Delays in completing required steps or submitting information and documents may affect whether an application can be reviewed and approved before the January 19, 2027, deadline.
  • Discuss individual circumstances promptly. If an employee anticipates that their individual circumstances may prevent them from completing the required steps within the recommended timeframe and they wish to retire under the ERI program, they should discuss their situation with their manager and provide the details to the Pension Centre in writing as soon as possible. Each situation will be reviewed on a case-by-case basis. However, this does not guarantee that an ERI application can be approved by January 19, 2027, or that any particular pension outcome will apply.
  • Plan your first pension payment. The Pension Centre’s service standard for retirees is to process the first pension payment within 45 days of the retirement date, provided it receives all required documentation before that date. Employees are encouraged to submit their information as early as possible to support both the eligibility review process and help ensure their first pension payment is issued on time.
  • Contact your manager or HR advisor about resignation matters. Questions about submitting, changing, withdrawing, or rescinding a resignation are employment matters that fall under the authority of an employee’s organization. Employees should discuss these matters with their manager and human resources advisor.  The Pension Centre cannot provide advice or direction about resignation decisions or changes to resignation dates.

If you have any questions about the ERI program, please email pensionsbenefits@pipsc.ca.