Benefits Past Your Normal Retirement Date
If you are continue working beyond your normal retirement date which is the end of the month in which you turn 65 or hired/rehired after age 65, please be advised of the following changes to your benefits:
1. Accidental Death and Dismemberment coverage is discontinued.
2. Basic Life Insurance is reduced to 1x your normal annual salary.
3. You will no longer be eligible to apply for Long Term Disability should you not be able to work due to disability.
4. Special Leave of Absence for Illness: Once sick leave entitlement has been exhausted, and if you were unable to return to work and perform the full scope of your duties, you may elect to retire or to remain on an unpaid leave of absence for a maximum of 24 months.
5. If you are enrolled in Optional Life Insurance, you may continue your coverage until the month before you reach the age of 70.
6. You will remain a member of the pension plan until the date you elect to retire from SFU or if earlier, the November 30th of the year you turn age 71.
Note : New employees who have already attained the age of sixty-five (65) are not be eligible to join the SFU Admin/Union pension plan. SFU retirees returning to work, who have commenced their monthly pension or received CV lump sum payments from their former membership of SFU Admin/Union pension plan, are also not eligible to rejoin the SFU Admin/Union pension plan.