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If you are considering terminating your employment with the federal public service, the following information will help you understand your pension options under your public service pension plan and eligibility rules under your insurance benefit plans.

You may want to know…

Can you increase your pensionable service prior to terminating employment?
Yes, if you have eligible periods of prior service you may be able to buy back this service or transfer it from another plan to increase your pension. Any service buyback or pension transfer agreement have to be made before you terminate employment. Depending on the type of service, there are various conditions that must be met. There are also impacts to consider, such as income tax implications. Additional information can be found in the Pensionable Service section.

If you have an existing service buyback that is not fully paid, you will have to continue making payments after you leave. For more information, refer to the Service Buyback Package.

What happens if you have not finished paying your pension or insurance benefit contributions for your period of leave without pay when you terminate employment?
Any pension and Supplementary Death Benefit contributions still owing for a period of leave without pay have to be paid when you terminate employment. Information on payment options for these contributions can be found in the Pension Entitlement Information Package - Two or More Years of Pensionable Service.

Any insurance benefit premiums or contributions still owing for a period of leave without pay have to be paid when you retire. Contact your compensation advisor for further information.

What are your pension options upon leaving the public service?
Your options vary depending on your years of service, your age when you cease to be employed and your reason for leaving.

If you have at least 2 years of pensionable service, you may be entitled to the following options:

If you have less than 2 years of pensionable service, generally, you are only eligible for:

Note: If you leave the public service and have chosen one of the following pension benefit options: a return of contributions, a transfer value payment or transferred your accrued pension credits to another pension plan, you will be covered under the post-2013 pension plan rules if you are re-employed as a plan member on or after January 1, 2013. For more information, refer to the Re-employment section of the Treasury Board of Canada Secretariat Web site.

If you have operational service with Correctional Service Canada, you may be entitled to different pension options and should contact the Government of Canada Pension Centre (see our Contact Us page).

More detailed information on the termination of employment process, required forms and impact on insurance benefits can be found in the Pension Entitlement Information Package.

What are your options if you accept an employment opportunity outside of the federal public service?
If you become employed outside of the federal public service, you may be eligible to transfer all or part of your accrued pensionable service to another pension plan through a pension transfer agreement regardless of the number of years of pensionable service that you have to your credit. Additional information can be found by consulting the Pension Portability Package.

What are your options if you accept an employment opportunity with the Canadian Forces or the Royal Canadian Mounted Police?
If you become employed with the Canadian Forces or the Royal Canadian Mounted Police you may be eligible to transfer your accrued pensionable service from the public service pension plan to their pension plan. Additional information can be found by consulting the Service Buyback Package.

How do you determine the value of your pension options?
Begin by looking at your most recent personal Pension and Insurance Benefits Statement, as it provides you with a summary of your entitlements and their approximate value. The Public Service Health Care Plan Web Application on the Compensation Web Applications can also help you estimate your yearly and monthly pension based on the information you enter.

How do you make a pension benefit option?
To make your option, you must complete a Pension Benefit Options Statement. When you have chosen a termination date, contact the Government of Canada Pension Centre (see our Contact Us page) and you will be provided with a personalized Pension Benefit Options Statement outlining your pension choices.

More detailed information on the termination of employment process, required forms and impact on insurance benefits can be found in the Pension Entitlement Information Package.

Once you have chosen your termination date who should you notify?
You must notify your compensation advisor and the Government of Canada Pension Centre (see our Contact Us page) once you have chosen your termination date. This should be done three months in advance of your termination date, if possible.