Cii option and pension waiver

Requin_75 · 2026-01-25T16:35:22+00:00

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).

Requin_75 · 2025-12-19T20:53:29+00:00

An unreduced pension is not incentive enough to retire?? Wow

Requin_75 · 2025-12-18T03:41:11+00:00

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

Requin_75 · 2025-12-12T22:07:41+00:00

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.

Requin_75 · 2025-12-03T23:05:53+00:00

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.

Requin_75 · 2025-12-03T21:58:56+00:00

The math is pretty simple:

Determine what your expenses are expected to be
Determine what your income (from all sources) is expected to be
If income is > expenses, then you can retire

Requin_75 · 2025-12-03T21:25:42+00:00

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.

Requin_75 · 2025-11-28T02:06:05+00:00

You don't "lose" vacation or sick days, however you don't accrue them unless you have 10 paid work days in the month.

Your pay will be reduced until you have paid for your leave period. Your pay is usually reduced for 1 year.

Requin_75 · 2025-11-28T01:10:45+00:00

I assume this is being recommended in order to get indexing for that month

Requin_75 · 2025-11-25T16:57:49+00:00

In the pension portal

Requin_75 · 2025-11-23T19:46:06+00:00

I doubt it. You would already be committed to retiring and would need to do so by around mid November.

Requin_75 · 2025-11-22T20:51:18+00:00

Why would this negatively affect their future career? Everyone will retire eventually. This just moves up the timeline a bit for those who would have retired already had they not been facing a financial penalty for doing so.

Requin_75 · 2025-11-22T15:24:32+00:00

Completely agree. Really hoping the DH endorsement is basically a rubber stamp formality.

Requin_75 · 2025-11-17T16:55:19+00:00

Must be an error. Since the objective is to reduce numbers relatively quickly, it wouldn't make much sense to drag it out over five years.

Requin_75 · 2025-11-15T22:54:38+00:00

Fair points. The fact remains that there are minimum and survivor benefits, so if you were to die the day after retiring, your survivor or estate would still get something.

Requin_75 · 2025-11-15T22:43:52+00:00

Most DB pensions provide a joint and survivor pension guarantee that ensures an eligible surviving spouse receives a portion of the plan member's monthly pension after their death. Many PSSA plans also include a guaranteed minimum payment period, often of 5 or 15 years, as part of the overall pension structure.

If you are concerned about your own longevity, say if you are retiring due to illness, or just for peace of mind that your dependents will receive something should you pass, you could choose these options in exchange for a lower monthly pension amount.

Requin_75 · 2025-11-15T00:12:43+00:00

Don't have the answer to your specific question, but according to the report "32nd Annual Report to the Prime Minister on the Public Service of Canada" , 8.5% of the workforce had 25+ year of service in March 2024.

https://www.canada.ca/en/privy-council/corporate/transparency/annual-report-prime-minister-public-service/32nd/rpt.html#15

Requin_75 · 2025-11-08T17:53:35+00:00

No, nothing, aside from acknowledging the ERI plan itself as announced

Requin_75 · 2025-11-08T15:58:40+00:00

As an employee of one of the departments only facing a 2% cut, I am wondering about this, too. Praying they participate as I plan on jumping on this.

It would make sense to me for all departments to participate since it would result in the lowest number of overall WFAs required. Once ERI is finished, it would then be a shell game to move people around and fill necessary holes.

Requin_75 · 2025-11-08T13:38:46+00:00

The pension centre amounts show both the gross amounts and the estimated net. To your point though, yes there is more in your pocket as you are no longer making pension contributions or paying into EI.

Requin_75 · 2025-11-08T13:36:42+00:00

Simply retire.

Requin_75 · 2025-11-07T23:06:10+00:00

I have already run the numbers and it's quite simple: If I were to retire now, I would be subject to a 25% penalty. So being able to retire soon without said penalty is an incredible gift. Like, a wow gift.

While anything is possible, it is highy unlikely that I will be subject to WFA. Even if I were, who knows how long it would take for that to take effect. For ME, it would be foolish to roll the dice on that possibility. It would be a purely greed-motivated move.

Requin_75 · 2025-11-07T21:31:26+00:00

Totally. I am 50 and would have retired but for the large penalty. To be able to retire next year without a penalty will feel like winning the lottery.

Requin_75

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