Early retirement

Retiring before the normal retirement age will affect your pension. Here are the key points to consider.


Key points to consider for early retirement

For most employees participating in the plan, the normal retirement age is 65 and the earliest retirement age is 55.

For group 2 and 5 members (police officers and firefighters), the normal retirement age is 60 and the earliest retirement age is 50.

If you are thinking about retiring before your normal retirement age, you should keep in mind the following:

  • You will receive a reduced pension   if you do not meet the minimum age and service criteria for an unreduced pension
  • You will receive a bridge benefit   until you turn 65 or die, whichever comes first
  • You can buy a temporary annuity   to supplement your retirement income until you turn 65 or die, whichever comes first
  • Your health care coverage as an employee will end when your employment ends, although you can apply for retirement health coverage through the Municipal Pension Plan when you apply for your pension

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