Buying pensionable service for a leave of absence including pregnancy, parental, job share, part-time or a general leave either paid or unpaid. Must buy-back within five (5) years of completing the leave.
Apply to be credited with up to five year of contributory service for time taken off work to raise children – Claiming a Child Rearing Credit (no payment is needed). This must be completed before you retire.
5. Prepare your resignation letter to be sent to the Human Resources Office at least 30 days prior to your date of retirement. You can send your resignation /retirement letter or email to Tanya Major. Keep a copy of your letter / email and the response. Your letter simply needs to state, “Please accept my letter of resignation effective June 30 20__. I will be retiring as of June 30, 20__.” (date could be different) Note: The School District honours retirees in June. To be honoured and included in the Board’s tribute booklet Human Resources must receive your resignation/retirement letter by May 31. The District will post more information in the Spring.
6. Contact Lucy Mo in the Payroll Office to find out when your EFAP coverage, extended health benefits and dental coverage end. If you retire on June 30 benefits usually expire on September 30. If you retire mid-year benefits usually expire the month following your retirement (for example if you retire on March 31 benefits expire on April 30). It is important to ensure you have continuous coverage until the benefits associated with the TPP or the BCRTA begin. (either email or phone Lucy Mo at 604-668-6000 ext. 6032)
7. Submit your package to apply for your pension. You can apply using a paper applications or online application by signing into My Account (within 90 days of your pension effective date). Check out – Apply for Your Pension. TPP has implemented on-line retirement; and 86 % of all retiring teachers used the on- line application. This was the highest adoption rate in all of the BC Public Sector Pension Plans, but still lower than Ontario teachers where over 90 % of teachers retire on-line.
8. Consider converting your current group life insurance to an individual life insurance policy? (contact Lucy Mo in Payroll for information and an application form)
9. If you would like to maintain your teaching certificate you must pay the annual TRB fee. The District automatically deducts this fee for you on March 31. After retirement, you will need to ensure this fee is paid by May 31 in order to maintain your certificate. Payment opens April 1 on the TRB site. The RTA encourages all teachers to maintain their certification – reinstating your certificate is onerous and costs extra money ($245 non-refundable application fee). TRB fee info
10. Consider joining the BC Retired Teachers’ Association (www.bcrta.ca). Membership in the BCRTA allows you to access alternative coverage for extended health, dental plans and/or travel insurance.
11. Considered joining the Richmond Retired Teachers’ Association? BCRTA Branches
BCTF Recorded Webinars Click here – workshop topics include How CPP works, What is YMPE and Why do I Care? Shortened Life Expectancy, WCB and your Pension, Purchasing Leaves of Absence. Teachers’ Pension Plan – Learning Resources The Teachers’ Pension Plan also provides videos, online courses, and webinars. Click here for more information.
BCRTA – BC Retired Teachers’ Association Online pre-retirement workshop - Understanding your Benefits and Pension Income in Retirement – CPP, OAS and Group Benefits.
When: 7:00 pm on November 16 & 23 / January 18 / February 29 / April 3 & 16 / May 9 & 29.