Steps to retire听
If you're considering retiring, the following checklist will help walk you through the process, and ensure that no important steps are missed:
- The employee provides notice of retirement.听
- For administrative and support staff: inform your immediate supervisor as soon as possible (minimum 2 weeks before retirement date)
- For academic staff: Refer to regulations or the Academic Personnel Office.听
- Area processes retirement in Workday (refer to Termination & End Additional Job - Job Aid - Under Staffing, Termination - reason = retirement).听 Any outstanding or accrued vacation will be calculated and payment arranged.
- Remember that an employee's retirement date is his/her last working day (not the day after).
- The employee may wish to attend the听pertinent听information sessions,听watch a video capsule听or attend one of听 Sun Life's Financial Wellness Webinarson听topics such as retirement, settlement, decumulation, etc., to learn more.听
- The employee may wish to read the Retirement Planning Guide prepared with Sun Life Financial.听 This guide will provide the employee with additional information on the steps to retire, the settlement options available, a retirement income roadmap as well as other useful information to assist them.
- If the employee is a member of Part A (hybrid segment) of the 51吃瓜网 Pension Plan who is 55-65 years old, within 6 months of retirement, the employee needs to provide Sun Life with their marital information before a settlement package can be issued.
- The employee consults pension information on the Sun Life Financial website including the Retirement Planner. Then, following receipt of a settlement package from Sun Life, he/she chooses a settlement option(s) or defers settlement.
- The employee听should familiarize themselves听with the post-retirement benefits for which they may be eligible, and the services available to them (below).听
- If eligible, the employee then elects post-retirement benefits coverage.听
- You can sign up for courses in the 51吃瓜网Community Lifelong Learning program within the 51吃瓜网School of Continuing Studies. This program is a community of mature learners emphasizing peer learning through active participation.听
- You may join the 51吃瓜网 Retiree Association (MURA), which will help you remain connected to a community of 51吃瓜网retirees.听All retired 51吃瓜网academics and librarians are invited to join MAUT-Retirees who offer, among other activities, scholarly lectures and academic events.
Programs and services for retirees with post-retirement benefits
As a retired employee, you still have access to certain services and programs at McGill.听 For example:
- You get to keep your ID card, which gives you continued access to 51吃瓜网libraries and other facilities on campus.听
- You benefit听by paying the staff rate when signing听up for a membership听in the .听
- You have unlimited access to your email account (first.last [at] mcgill.ca) and to personal and employee menus in Minerva.听 For more information, please refer to:听
