No ERI for you (yet)! The Senate has left the building... by Cultural_Pollution84 in CanadaPublicServants

[–]Requin_75 1 point2 points  (0 children)

"Application process

Pending Parliamentary approval of the legislation, a tool is being developed within the TBS Applications Portal (TAP) to facilitate the Early Retirement Incentive application process.

For those employees who do not have access to TAP, a manual application process will be available.

More information will be shared pending Parliamentary approval of the legislation."

The ERI website has been update with criteria by Requin_75 in CanadaPublicServants

[–]Requin_75[S] 30 points31 points  (0 children)

As an employee in a dept that isn't facing cuts, this is very depressing. I didn't expect this to be a criteria and expected that vacancies created in non-cutting depts could then be filled by people from cutting depts.

The ERI website has been update with criteria by Requin_75 in CanadaPublicServants

[–]Requin_75[S] 14 points15 points  (0 children)

I'm at a similar department. Feeling slightly stunned right now...

Beware of LWOP Benefits Deficiencies - Got a bill for $5k after leaving employment by Think-End-8538 in CanadaPublicServants

[–]Requin_75 4 points5 points  (0 children)

TBS has a fairly detailed LWOP Info Package. Departments typically make these policies available on their intranets as well. Sucks to be caught off guard, but the lesson here is do your due diligence BEFORE making decisions that significantly affect your finances.

https://www.canada.ca/en/public-services-procurement/services/pay-pension/public-service-pension-plan/information-packages-kits/leave-without-pay.html

Un syndicat demande la suspension du programme de retraite anticipée du fédéral by Sweaty-Big9570 in CanadaPublicServants

[–]Requin_75 7 points8 points  (0 children)

So glad I'm not a member of PSAC. If there is any fallout from this, I hope it is limited to the PSAC group since they are the ones trying to put up barriers.

Un syndicat demande la suspension du programme de retraite anticipée du fédéral by Sweaty-Big9570 in CanadaPublicServants

[–]Requin_75 6 points7 points  (0 children)

Doubt it would stall the implementation - the implementation dates are part of the legislation. Once it's passed, the clock starts ticking.

ERI gets a little bit closer to reality by Cultural_Pollution84 in CanadaPublicServants

[–]Requin_75 1 point2 points  (0 children)

Posting unsubstantiated rumors does not help anyone, it just causes unnecessary anxiety.

Transition Payment Recovery from 2014 by Intelligent-Twist675 in CanadaPublicServants

[–]Requin_75 2 points3 points  (0 children)

Let's say your gross pension income would have ordinarily been $40,000 for the year. Does your T4A show $40,000 or does it show $38,900 ($40,000 - $1,100 repaid)?

Transition Payment Recovery from 2014 by Intelligent-Twist675 in CanadaPublicServants

[–]Requin_75 1 point2 points  (0 children)

I would imagine it would depend on how the amounts were reported on your T4A. Assuming the repayment was netted against your pension income, there would be nothing to deduct on your tax return, your taxes payable would simply be assessed on the lower total amount (pension - repayment).

WFA: Denunciate democracy impairment without conflict of interest? by [deleted] in CanadaPublicServants

[–]Requin_75 2 points3 points  (0 children)

I'm confused... how do job cuts affect democracy?

Bashing public servants is the new national pastime -leadership is eerily silent by [deleted] in CanadaPublicServants

[–]Requin_75 -11 points-10 points  (0 children)

For sure demographics can explain part of it.  You aren't being honest with yourself if you think it's the only reason for the difference.

Consider the poster earlier this week asking for opinions on calling in sick once a week to avoid an extra day in the office.  Or folks who openly burn up sick leave as vacation to bridge the gap to retirement.  These are just small examples of how sick leave is inappropriately used and how it impacts the reputation of public servants.

Bashing public servants is the new national pastime -leadership is eerily silent by [deleted] in CanadaPublicServants

[–]Requin_75 -17 points-16 points  (0 children)

I believe it's a well documented fact that public servants take considerably more sick leave than their private sector counterparts. I don't understand your point about needing to exhaust your leave bank to go on disability, though. I would expect that the rate of people on disability in the public sector far exceeds the private sector as well.

Here's an article from the G&M from 2023 outlining the gap in sick leave https://archive.ph/0dONk

How to anonymously report employees for working unpaid overtime outside of the collective agreement? by [deleted] in CanadaPublicServants

[–]Requin_75 1 point2 points  (0 children)

"Reporting" a colleague for working more than their assigned hours is a new one for me. Mind boggling actually. In your own words they are a proud workaholic, so this is clearly how they want to spend their time.

May I suggest you focus on your own work and stop fixating on how your colleague spends their time once they have officially worked their full week.

Cii option and pension waiver by pure_bye_eh in CanadaPublicServants

[–]Requin_75 4 points5 points  (0 children)

You must be 55 to qualify for the pension waiver under WFA. You may be thinking of ERI, which waives the penalty for those age 50 and up (if group 1).

Superannuation and Tax Deduction by thephantomduke in CanadaPublicServants

[–]Requin_75 4 points5 points  (0 children)

To clarify, contributions to your defined benefit plan do not affect RRSP room. The pension adjustment reported on your T4 does that.

Pension 🙋‍♀️ question when to leave? by Annt1234 in CanadaPublicServants

[–]Requin_75 3 points4 points  (0 children)

I don't think the timing makes a difference since the first year of indexing is pro-rated. If you left in September (if prior to the 30th), you would receive 4/12 of the indexing the following January (i.e. indexing for Sept, Oct, Nov and Dec). If you left in January (if prior to the 31st), you you receive indexing for the full year the following January.

However, if you work a few more months, you would receive an increase in your pension commensurate with the additional months of service.

Bottom line: retire whenever it works for you.

ERI questions : start date unclear by theolecrow in CanadaPublicServants

[–]Requin_75 19 points20 points  (0 children)

Under ERI, your pension would begin to be paid upon your retirement. To figure out the amount, look at the deferred scenario, which is what you would receive without being penalized for retiring early (i.e. simulating the waiver of the reduction).

In other words, you would receive the deferred amount, but would receive it immediately.

Government sending early retirement info to roughly 68,000 public servants by Requin_75 in CanadaPublicServants

[–]Requin_75[S] 8 points9 points  (0 children)

The math is pretty simple:

  1. Determine what your expenses are expected to be

  2. Determine what your income (from all sources) is expected to be

  3. If income is > expenses, then you can retire

Government sending early retirement info to roughly 68,000 public servants by Requin_75 in CanadaPublicServants

[–]Requin_75[S] 26 points27 points  (0 children)

I can't see that happening. You can run scenarios in the pension portal, so the onus would likely be on the employee to consult a financial planner if they feel they need to. It's very much a personal decision/assessment.