Retirement Planning

Steps leading up to retirement

One Year Before Retirement

• If you have service in a teachers’ pension plan in another Canadian province/territory and did not take a refund, check with that plan as to your accrued benefits and options, including transfer to the TPP.
• Take some time to consider your probable “lifestyle” in retirement
  • Make a budget for your interests as well as the regular day to day expenses.
  • Decide where you want to live and the type of accommodation you may need
  • Update your Will and Power of Attorney and/or Representation Agreement.
• Start to clean out your classroom. Give away materials and units as you complete them.  Do not take them home to clutter your basement.

Four Months Before Retirement

• Contact the Teachers’ Pension Plan for a Retirement Application Package. Send the completed application form to the TPP no later than the end of the month in which the pension is to start (preferably at least two months earlier) to ensure prompt pension payment.

One Month Before Retirement

• Find out from us at the STA when the annual retirement dinner dance is, and plan to attend! It’s time to celebrate your career.
• At least thirty days before the date of retirement send in your letter of resignation to your school board, with a copy to the STA.
• Check with the School Board Office to see when your current health benefits end to ensure continuous coverage.
• Invite newer teachers to a resources day and have them take away units and materials that you will not need in your new life.

Organizations and Phone Numbers