Following the employee’s resignation date, the lump-sum payment will be made on the next pay date. Alternatively, the employee may choose to receive a partial payment on that pay date, followed by a second payment on the first regular payroll date in 2026. Please note that all payments must be made by January 2026, so if your last workday is December 31, 2025 you must take your lump-sum as a single payment.

Taking advantage of the VRIP will not change any of the benefits you are entitled to in retirement. For more information about your benefits in retirement, please refer to the benefits guide for your employee group.

The VRIP is a limited-time, 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.

The benefits offered through the VRIP are in addition to, and not a replacement for, any retirement benefits outlined in your collective agreement or individual employment contract. Your existing retirement entitlements remain intact and unaffected by this program.

The program is not mandatory, and eligible employees are encouraged to assess their situations to make an informed decision. If you don’t participate in the VRIP, your employment status remains as is.

The incentive for retiring under the program is a lump-sum payment from the university in an amount equal to 1 month of pay at your regular salary for each completed year of service, up to a maximum of 12 months.

The Department of Human Resources will send application instructions to employees who are eligible to participate in this program. If the application is approved, applicants cannot withdraw their application.

The program offers eligible employees the opportunity to retire in 2025 with an additional incentive payment.

Participants must meet specific criteria. 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 (examples: 55 years of age plus 20 years of service/62 years of age plus 13 years of service). Please note that research, grant, and contract roles are excluded from this program.

Faculty members who already have submitted their intent to retire under Article 13.7 of the Carleton-CUASA Collective Agreement are ineligible for the VRIP.

If you do meet the criteria, you will receive an email notification from Human Resources on November 21, 2024.