Retirement Date


Your normal retirement date…

…is the first day of the month immediately following the date on which you turn 65. If your 65th birthday is the first of the month, then it becomes your normal retirement date.

For example: if your 65th birthday is July 2nd, 2010, your normal retirement date is August 1st, 2010. If your 65th birthday is July 1st, 2010, your normal retirement date is July 1st, 2010.

When you turn 65, most of you will also begin receiving benefits from Old Age Security and the Canada Pension Plan.


Early retirement

You can retire as early as age 55, but your pension will be subject to a reduction of 1/2 of 1% for each month your early retirement date precedes your normal retirement date.


You do not have to retire at age 65.

You can choose to postpone your retirement after your normal retirement date, up to December 1st of the year in which you turn 71. If you have not chosen to retire by then, your pension will begin anyway, and you will be deemed to have retired. Your postponed pension will include pension earned after age 65, up to your retirement date.