Retirement Benefits

For information on Pension Plan benefits on retirement, please link to:

Pension Benefits on Retirement

 

SELECTING A RETIREMENT DATE

Support staff members may use their current year vacation entitlement to extend the date of retirement, subject to certain limitations.  Vacation carried over from a previous year, vacation earned for use in the next year, banked overtime, banked regular time and statutory holidays will be paid as a non-pensionable lump sum payment, subject to income tax deductions, on the staff member's final pay period. The VIP advance repayment, if applicable, will also be collected from the final pay.  To review the Support Staff Retirements Policy and Procedure before finalizing your retirement date, please link to:  http://umanitoba.ca/admin/governance/governing_documents/staff/884.html (Support Staff Retirements)

Your pension cannot commence or be transferred to another financial institution until the month following receipt of your final pension contributions.  As bi-weekly and hourly paid employees are paid the week following the two week period of employment, please ensure your final Pay Date is in the month prior to the month of your intended pension commencement or transfer date.  For example, a bi-weekly paid employee who retires on August 31, 2012 is paid on September 7, 2012 and cannot commence his/her pension until October 2012.  To review the current year Pay Periods and Pay Dates before finalizing your retirement date, please link to:  http://umanitoba.ca/admin/financial_services/payroll/index.html (Payroll Services)

 

 


 

 

 
 
Questions or comments regarding Pension Benefits 
please e-mail: Pension Administration