Dear Professional Staff and Faculty Members,
We are writing today to follow up on our message of November 8 in which we provided an update regarding the operating budget and the university's financial status. We wish to express our gratitude to all individuals who have taken the time to share thoughts and suggestions through the Provost’s website. Your input is invaluable during these challenging times, and together we will create a way forward.
Following the approval of the Board of Governors Executive Committee this week, we are implementing a Voluntary Retirement Incentive Program (VRIP). The program provides a lump-sum financial incentive to employees who meet specific criteria, helping them transition to retirement in 2025.
This initiative is one component of the Financial Sustainability Framework, which will help the university address the annual deficits in the short and medium-term as we continue planning towards long-term financial sustainability.
The VRIP is offered to full-time continuing professional staff and faculty members who are 55 or older and have a combined age and years of service totaling 75 or more. If you are eligible for this program, you will receive an email from the Department of Human Resources by the end of this week.
The VRIP is a limited, one-time offer. As this opportunity is not a recurring program, it’s important for eligible individuals to consider participating in the program while it is available.
We recognize that retirement is a significant decision, and we want to provide you with the necessary information to facilitate an informed choice. For additional details, please visit the dedicated webpage at carleton.ca/vrip, which lists program details as well as the information for workshops hosted by the Retirement Planning Institute. These workshops can assist individuals in financial planning and preparing for the transition into retirement.
We will continue to provide information regarding these ongoing changes in a clear and transparent manner. All community messages related to Carleton’s budget will continue to be posted on the Provost’s website.
Sincerely,
L. Pauline Rankin Provost and Vice-President (Academic)
Angela Marcotte Interim Vice-President (Finance and Administration)