Familiarize yourself with retirement and pension information on our Receiving your Pension page – implications of retiring early or postponing retirement are discussed.
If you are planning on retiring in the next two to five years, contact Pension Services for a detailed quote.
If you are currently employed by Carleton and joined the Carleton University Retirement Plan prior to July 1st last year, you can access the Carleton Retirement Planner. For assistance with this tool please refer to our Retirement Planner User Guide.
We offer retirement seminars to Faculty and Professional Services employees during the Spring of every year. Login to Carleton Central to sign up for an upcoming session.
It is a good idea to start making arrangements to retire about six months before your retirement date. This checklist covers what you need to do six and three months prior to retirement.
Here are the post-retirement benefits that will be available to you upon retirement.
Retiring Allowance – Professional Services
If you have thirteen (13) or more years of continuous service at retirement you may be eligible to receive a retiring allowance equal to one week’s salary for each year of continuous service to a maximum of fifteen (15) years.
You can transfer all or part of the retiring allowance to an RRSP or your AVC account. The amount eligible for transfer is limited to:
- $2,000 for each year or part of a year before 1996 that you worked for Carleton University, plus
- An additional $1,500 for each year before 1989 that you were employed at Carleton University but not a member of the pension plan.
Transfers to your AVC account are also subject to income tax limits.
Professional Services includes the following groups: Admin. Management, Admin/Tech exempt, CUPE 2424, CUPE 910, CUPE 3778, and Safety.