Retirement

We wish to remind you that all decisions regarding your retirement are important and can have serious consequences. This is why we recommend that you be attentive to your retirement planning throughout your career, be cautious so as not to make a hasty decision and base your retirement decisions on:

• official documents such as your Statement of Participation, your Statement of Contributions, your Choice Statement or your Buy-Back Proposal;
• your knowledge of how a change in plan, employer or personal circumstances can affect your retirement, as well as the conditions that apply when you work for several employers during the same year;
• a periodic validation of the information in the documents we send you and an indication to your employer of any irregularities that need correcting.

You must also evaluate your retirement income as compared to your expenses. But first, it is essential that you feel it is the right time to enter this new stage of your life.

Save time and make the steps you take for retirement easier and log in to My Account whenever it is convenient for you. You can:

• consult your information and your personalized documents
• make calculations using tools for financial planning for retirement
• see your estimated retirement pension and the amounts you could receive in the event of death or disability
• file and track certain applications
• sign up for notifications to receive a notice by email and/or text message in case of changes made to your file or when a document has been uploaded.
• receive and consult your documents online rather than by mail.
  

Going digital, it's simple, fast and secure!

In order to receive your retirement pension, you must send an Application for Retirement Pension Under a Public-Sector Pension Plan (RSP-079A) and send it online to Retraite Québec at least 90 days before the first day of the month of your retirement. That period includes a 30-day time limit to inform us of your choices using the Your Options reply form you will receive. This reply form is uploaded automatically to My Account. You can file it and track your application in your digital file. If you do not meet the deadline, the default option indicated on the Your Options document will apply to determine the amount of your pension.

When you apply, the date on which you will stop working must be decided with your employer. In order for you to be eligible for your pension, all your employment ties must have ended before your retirement date. Your employment ties end when:

• you resign,
• you are dismissed,
• your work contract ends,
• a recall list with your name expires, depending on the terms of your collective agreement or your employment conditions.

Your pension application can be cancelled as long as the first payment following confirmation of your preliminary pension has not been cashed or deposited.

Note: If you have a spouse, you can choose to permanently reduce your basic pension by 2% and, if applicable, your life annuity linked to pension credit service to increase the surviving spouse's pension to which your spouse would be entitled after your death. You must inform us of your choice using the reply form.

For more information, contact the public-sector pension plan administrator at your place of work. This person generally works in the human resources department.

Under the RREGOP, the TPP or the CSSP, we will use the following formula to calculate the amount of your annual basic pension:

Under the PPMP, the formula is as  follows:

Yes. However, we will take into account the annual salary you would have received if you had worked full-time.

When you retire, we will use all or part of the retroactive amount to calculate your pension, provided certain conditions are met and your pension plan so allows.

If you are a member of the RREGOP, the TPP or the CSSP, you must meet the following conditions:

• The retroactive amount was paid according to your basic salary (the salary provided for in your collective agreement or your work contract).
• The retroactive amount is for one of your 5 best-paid years of service.

If you are a member of the PPMP, you must meet the following conditions:

• The retroactive amount was paid according to your basic salary (the salary provided for in your work contract).
• The retroactive amount is for one of your 3 or 5 best-paid years of service.

Note: If you received a retroactive amount after 2006 and you stopped participating in the plan after 2009, the amount is divided over each year concerned.

Not necessarily. Entitlement depends on your age and the number of years of service when you stop working.

If you are a member of the RREGOP or the PPMP and need more information, click the appropriate link below.

• The plans >The RREGOP > Calculation of your pension
• The plans > The PPMP > Calculation of your pension

If you are a member of the TPP or the CSSP, refer to the appropriate document below.

• Le RRE en bref (available in French only)
• Le RRF en bref (available in French only)

If you have opted for direct deposit, your retirement pension will be paid monthly for life on the 15th of each month, or if the 15th is not a work day, on the preceding work day. If your pension is paid by cheque, it will be issued no later than 48 hours before that date.

Yes. We are required to deduct federal and Québec income tax from your pension. To determine the amount of the deductions, we will assume that your retirement pension is your sole income.

You can ask us to increase your income tax deductions or change the personal income tax credits used to determine the amount of your deductions.

Yes, with the exception of certain pensions under the PPMP. Once you begin receiving your retirement pension, it will be indexed on January 1 of each year according to the rate of increase of the Pension Index (PI) determined in accordance with the Act respecting the Québec Pension Plan and calculated as follows:

• The portion of your pension that corresponds to your yearsof service before 1 July 1982 will be fully indexed to the PI.
• The portion of your pension that corresponds to your years of service from 1 July 1982 to 31 December 1999 will be indexed to the PI, minus 3%. If the PI is 3% or less, that portion of the pension will not be indexed.
• The portion of your pension that corresponds to your years of service since 1 January 2000 will be indexed using the more advantageous of the following formulas:
  • 50% of the PI; OR
  • the PI minus 3%.

If you are receiving a pension under the PPMP, indexation of your pension may be suspended for 6 years ^{See the Note 1}, subject to certain conditions.

The suspension applies for 2018 through 2023 if you are:

1. entitled to an immediate pension and cease all employment under the plan before 1 January 2017; OR
2. entitled to a deferred pension that takes effect before 1 January 2017.

The suspension applies for 2021 through 2026 if you are:

1. entitled to an immediate pension and cease all employment under the plan after 31 December 2016 but before 1 July 2019; OR
2. entitled to a deferred pension that takes effect after 31 December 2016 but before 1 July 2019.

The suspension also applies to a surviving spouse's pension and a reduced immediate pension not yet in payment. In addition, it applies to retirees under the PPMP who return to work or are taking advantage of progressive retirement and whose retirement pension has been suspended.

For all retirement pensions subject to the 6-year suspension, indexation for each period of service resumes after the suspension as follows:

For additional pensions subject to the 6-year suspension, indexation resumes after the suspension at the PI minus 3%.

Indexation is not suspended and the indexation rates do not change in the case of a retirement pension resulting from years of service transferred to the Teachers Pension Plan (TPP) or to the Civil Service Superannuation Plan (CSSP), or in the case of a pension credit from a supplemental pension plan and, the transfer agreement pension credit and buy-back pension credit. In addition, the suspension of indexation does not apply to additional pensions paid further to a pension buy-back credit granted under the TPP or the CSSP.

1. Note 1 The suspension of indexation and subsequent changes to the applicable indexation rates do not apply to certain portions of pensions. For more information, you can consult the relevant provisions of your pension plan or contact Retraite Québec.

When you turn 65, your public-sector pension plan will take into account the fact that you will also receive a pension under the QPP. This will reduce the pension you receive under your public-sector plan. This process is called integration with the QPP.

Your retirement pension will be reduced as of the month following your 65^th birthday.

Note that the portion of the pension that corresponds to the years accrued after 35 years of service is not integrated with the QPP. The introduction of the additional plan under the QPP as of 1 January 2019 does not change the existing provisions of public-sector pension plans. Therefore, only the pension paid under the Québec Pension Plan's base plan is taken into account to calculate the amount of the reduction as a result of integration.

Like many of the pension plans offered by other employers, your public-sector pension plan is integrated with the QPP. As a result of integration, the total of the pensions payable to a person under the QPP and his or her public-sector pension plan is equal to about 80% of the person's average pensionable salary prior to retirement, provided the person had accrued 40 years of service under the RREGOP, the PPMP, the TPP or the CSSP, or as at 31 December 2018.

Integration with the QPP has no effect on the amount of the QPP retirement pension. However, as of age 65, a reduction not linked to integration may apply to your disability or surviving spouse's pensions payable under the QPP.

Yes. The act governing your public-sector pension plan provides for integration with the QPP.

No. Your pension will be reduced only as of the month following your 65th birthday, even if you begin receiving your QPP pension before you turn 65.

Yes. Your pension will be integrated as of the month following the month of your death, even if you die before age 65.