Jul 7, 2022
For those of you thinking of retirement. There are some deadlines approaching fast. Here are the rules to getting the right outcome.
Employees will be eligible to receive the Retirement Allowance provided they submit their Notice of Intent to Retire and their last day of work is on or before the date of ratification of a new collective agreement.
Example A:
Last Day Worked by employee June 30, 2022 – employee using their outstanding vacation and Lieu time as time off until September 1, 2022. First day of retirement September 2, 2022
Ratified Union Contract July 1, 2022
Employee would be eligible for the retiring allowance provisions which would be payable to the employee on their last pay cheque with The City in September 2022
Example B:
Last Day Worked by employee June 30, 2022 – employee using their outstanding vacation, lieu time and retiring allowance as time off until October 31, 2022. First day of retirement November 1, 2022
Ratified Union Contract July 1, 2022
Employee would be eligible for the retiring allowance provisions; there would be no payout’s of any balances as employee has chosen to take all as time off.
Example C:
Last Day Worked August 1, 2022 – which was approved and submitted to Payroll on Intent to Retire Form on November 15, 2021
Ratified Union Contract July 1, 2022
Employee would NOT be eligible for the retiring allowance provisions (either chosen to be paid or as time off whichever they had chosen and articulated on the Intent to Retire Form).