General Information - Normal Retirement
The Normal Retirement Date (NRD) will be the first day of September next, succeeding a Member’s 65th birthday. Members are not required to retire on their normal retirement date. In the absence of written notice of retirement, employment will continue beyond the NRD.
Members 55 years of age and over are eligible to retire.
Members should normally give at least 12 months written notice of retirement to the Chair; 18 months’ notice is preferred. This notice period may be reduced by mutual agreement. A Member must submit their notice to retire in writing to the Chair of the Department with a copy to the Dean. The notice of retirement must clearly state the effective date of retirement.
Retirement - Notice and Acknolwedgement Form (for regular retirement)
Article 49: Retirement
Enhanced Early Retirement
The enhanced early retirement program is intended to provide an opportunity for Simon Fraser University Faculty Association bargaining unit members to retire early, contingent upon approval by the University.
All SFUFA bargaining unit members 55 years of age or older may apply to the Chair or Dean for enhanced early retirement.
The early retirement enhancement for Members retiring under this provision at least five years prior to normal retirement date will be a minimum of 14 months’ salary. This enhancement will be prorated to reflect the actual time of retirement prior to normal retirement date (including any partial years.)
Bargaining unit members considering early retirement should discuss Pension Plan retirement income options and other benefit plans with the Pension Plan administrator.
Eligible bargaining unit members are urged to seek independent tax, financial or related advice in order that the consequences of the retirement decision are adequately assessed.
Article 49: Retirement; Sections 49.25-49.29 Enhanced Early Retirement
Members of the bargaining unit who are at least 60 years of age and who have a minimum of 10 years of full-time continuous service at the University may elect to participate in one of three phased retirement options after giving irrevocable notice of retirement.
A minimum of 12 months written notice to the Chair or equivalent is required; 18 months is preferred. The notice period may be reduced or waived by mutual agreement. The phased retirement does not commence until the notice period has elapsed.
Phased Retirement Options (see Collective Agreement Articles for more information):
- Reduced Workload Option
- Reduced Scope Option
- Reduced Workload/Reduced Scope Option
Article 49: Retirement: Sections 49.7-49.24 Phased Retirement
Preparing for Retirement
For more information on financial planning and benefits for retirement, please see the Human Resources - Retiring from SFU website.
Financial Counselling for Retirement - Using PDR Funds (Article 49.5-49.6)
This is a non-recurring service for employees who are clearly at or near retirement (i.e. within 15 years of the individual's normal retirement date) where the primary emphasis is on retirement issues, but does not include advice relating to the purchase of specific investments or the promotion of a particular investment strategy.
A maximum of three hours or $750 (whichever is less) of Financial Counselling for Retirement will be an allowable Professional Development Reimbursement expense provided the provider of the service has one of these specified designations: Actuary, Chartered Professional Accountant (CPA). Lawyer, Certified Financial Planner (CFP), Registered Financial Planner (RFP)
Release of Equipment (Article 50)
Equipment purchased with research grants or University funds belong to the University and will remain with the University. Please refer to Article 50 for full details.
Professional Development Reimbursement (Articles 43.49 43.53)
Claims for Professional Development Reimbursement are not accepted after retirement, regardless of the date at which the expense was incurred. You must submit your final PDR claim to Faculty Relations at least one month prior to your last day at SFU. Unused Professional Development entitlements revert back to the University and are not paid out at the time of your retirement.
You have the option to purchase additional years of service in the BC College Pension Plan (BCCPP) for years worked at SFU prior to July 1, 2021. You also have the option to purchase service for any difference between your nominal (100%) salary and the actual salary for any periods where you have been on a leave (including Study Leave, Phased Retirement, or Modified Appointments).
More information on this process will be provided to you following the submission of your notice of retirement.
If you have questions, please contact BC Pension Corporation toll-free at 1-888-440-0111 or SFU Human Resources, Pensions at firstname.lastname@example.org.
Eligibility for Emeritus Status
Upon retirement, if a member has served Simon Fraser at one of the following ranks for 10 years or more, they will become Emeritus at that rank: Professor, Librarian/Archivist 4 (or above), and University Lecturer. The title is held for life. In cases where the employee meets the criteria at retirement, the Emeritus status is confirmed in the letter from the President.
The President may confer the title on other retiring members acting on recommendations from:
|Professor||Department Chair and Dean|
|Librarian/Archivist 4||University Librarian or University Archivist, and the Vice-President, Research (for Librarians)|
|University Lecturer||Department Chair, Dean, Vice-President Academic|
Retirement Notice-Acknowledgement Form (Updated June 10/21)
Phased Retirement Notice-Acknowledgement Form (Updated May 22/18)
Enhanced Early Retirement Application Form (Updated June 10/21)
Article 49: Retirement
Article 27: Research Faculty Workload (27.16) - TTR Balance prior to retirement
Article 43: Economic Benefits (43.49, 43.54) Retirement and PDR
Article 43: Economic Benefits (43.60) Gym Membership
Article 50: Release of Equipment
Academic Policy, Project Analyst