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Deciding to Retire

Plan concerned: The RREGOP


Here are answers to questions often asked by people who are planning their retirement.

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Planning Your Retirement

What do I have to consider before deciding to retire?

We wish to remind you that all decisions regarding your retirement are important and can have serious consequences. It is why we recommend that you be attentive to your retirement planning throughout your career. Be cautious so as not to make a hasty decision.

It is essential that you base your retirement decisions on formal documents such as your personalized Statement of Participation, which is available at any time in My Account, the Your Options document or your Buy-Back Proposal. Do a periodic validation of the information contained in those documents and inform your employer of any irregularities to correct. You must also be vigilant if you change plan or employer, if you work for several employers during the same year, or if changes that could influence your retirement occur in your personal situation.

Of course, it is important to evaluate, according to your age at retirement, the total income you will obtain from your RREGOP retirement pension, your pension from the Québec Pension Plan, your Old Age Security Pension (payable at age 65) and, if applicable, your registered retirement savings plan (RRSP), or any other source. Lastly, you must compare your income with the expenses you will have to assume.

But first, it is essential that you feel it is the right time to enter this new stage of your life.

Save time and make the steps you take for retirement easier and log in to My Account whenever it is convenient for you. You can:

  • consult your information and your personalized documents
  • make calculations using tools for financial planning for retirement
  • see your estimated retirement pension and the amounts you could receive in the event of death or disability
  • file and track certain applications
  • sign up for notifications to receive a notice by email and/or text message in case of changes made to your file or when a document has been uploaded
  • receive and consult your documents online rather than by mail.

Going digital, it’s simple, fast and secure!

How can I obtain an estimate of my RREGOP retirement pension?

You can use the Pension Estimator This link will open in a new window.. With this tool, you can quickly and easily obtain an estimate of the amount of pension you would be entitled to on the date you plan to retire. Moreover, you can use the calculator as many times as you wish and consider several retirement scenarios to help you make your decision.

If you intend to retire within 4 to 24 months from now, you can also apply for a pension estimate using the following form:

You do not have to resign to apply for a retirement pension estimate. Please note that the delay for such an estimate is 90 days as indicated in the Service Statement.

 

Application for a Public-Sector Retirement Pension

What do I have to do once I have decided to retire?

In order to receive your retirement pension from the RREGOP, you must send an Application for Retirement Pension Under a Public-Sector Pension Plan This link will open in a new window. PDF. form (RSP-079A) to Retraite Québec within at least 90 days before the first day of the month of your retirement. That period includes a 30-day time limit to inform us of your choices using the Your Options reply form you will receive. If you do not meet the deadline, the default option indicated on the Your Options document will apply to determine the amount of your pension.

When you apply, the date on which you will stop working must be decided with your employer. In order for you to be eligible for your pension, all your employment ties must have ended before your retirement date. Your employment ties end when:

  • you resign,
  • you are dismissed,
  • your work contract ends,
  • a recall list with your name expires, depending on the terms of your collective agreement or your employment conditions.

Your pension application can be cancelled as long as the first payment following confirmation of your preliminary pension has not been cashed or deposited.

Note: If you have a spouse, you can choose to permanently reduce your basic pension by 2% and, if applicable, your life annuity linked to pension credit service to increase the surviving spouse’s pension to which your spouse would be entitled after your death. You must inform us of your choice using the reply form.

For further information in this regard, contact the public-sector pension plan administrator at your current workplace, generally in the human resources department.

If I am eligible for a reduced immediate pension, can I resign and wait until I am eligible for an unreduced immediate pension before I apply for my public-sector retirement pension?

Yes. You can defer the date of the first payment of your immediate pension. To do so, after having applied for your retirement pension, you will receive the Your Options document and you must indicate on the Reply-Form included that you want payment of your pension to begin on a date other than your retirement date. If the date on which you start receiving your immediate pension is closer to the date on which it would be payable without reduction, the reduction applicable to your pension will be less.

However, before making this decision, it is important to consider the consequences. Opting to receive a slightly higher pension at a later date could mean that you deprive yourself for several months of funds from which you could benefit as soon as you retire.

Suppose that I am eligible for a reduced immediate pension when I leave my employment but I do not apply for it immediately. Can I apply later, even though at that time, I am not yet eligible for an unreduced immediate pension?

Yes. However, if you file your application for a retirement pension more than 60 days after you stop working but are not yet eligible for an unreduced immediate pension, we will not pay your pension retroactively to the date on which you stopped working, but rather retroactively to the date on which we received your application or any later date specified on your reply form. We will take that same date into account to calculate the reduction due to your early retirement.

Example:

Martha leaves her employment in September 2020 at age 59. She has 22 years of service credited for eligibility purposes and is eligible for a reduced immediate pension. Since she will be eligible for an unreduced pension in 2 years, when she turns 61, she decides to wait before applying for her pension.

In September 2021, at age 60, even though she is not yet eligible for an unreduced immediate pension, Martha files an application for her retirement pension.

We will pay her pension retroactively to the date on which we received her application (September 2021) and will take that date into account to calculate the reduction applicable to her pension.

Suppose that I am eligible for a reduced immediate pension when I leave my employment but I do not apply for it and forget to apply for an unreduced immediate pension when I become eligible. What will happen if I file an application for a pension a few months later?

If you file your application for a retirement pension once you are eligible for an unreduced immediate pension, we will pay your pension retroactively to the date on which you became eligible for an unreduced immediate pension and not retroactively to the date on which we received your application.

Example:

Paul leaves his employment in September 2020 at age 60. He has 25 years of service credited for eligibility purposes and is eligible for a reduced immediate pension. Since he will be eligible for an unreduced immediate pension in one year, when he turns 61, he decides to wait before applying for his pension.

On his 61st birthday, in September 2021, Paul becomes eligible for an unreduced immediate pension. However, he forgets to apply for it.

In December 2021, Paul files an application for a retirement pension. We will pay his pension retroactively to the date on which he became eligible for an unreduced immediate pension (September 2021). 

How the partition of benefits accrued under a public-sector pension plan affects your retirement pension

When the benefits accrued under a public-sector pension plan are partitioned upon the breakdown of my union, what impact does that have on the amount of my pension?

Once the amounts allocated to your spouse have been paid, we will calculate what is called a reduction following partition and adjust your file accordingly. The reduction to your pension benefit is permanent.

Integration with the Québec Pension Plan at age 65 does not take into account the reduction resulting from the partition of family patrimony. The full amount of your pension is integrated, and not the reduced pension amount following partition.

 

Calculator

Use this tool to estimate the amount of your public-sector retirement pension:

 

Useful Forms

Fill out this form to apply for an estimate of your public-sector retirement pension and send it to us online:

  

Fill out this form to apply for your public-sector retirement pension and send it to us online:

 

Useful Links

 

To Learn More About Your Public-Sector Pension Plan