Pre-retirement Contracts

A pre-retirement contract is a fixed-term contract entered into by the University and a staff member seeking to retire at a specified future time (usually in between 1-5 years’ time). Professional and academic staff who are eligible for consideration of a pre-retirement contract includes staff who have:

• tenured or continuing employment with the University
• reached 55 years of age and will retire at the expiry of the pre-employment contract.

Benefits

For the staff member

• A pre-retirement contract allows a staff member to plan for the future by giving guaranteed employment for the duration of the contract.
• Employees receive a 10% loading above normal salary which is superannuable.
• The contract period provides the work unit time for succession planning.
• Conversion to a pre-retirement contract can also be combined with part-time employment, enabling employees to enjoy the benefits of retirement while at the same time undertaking paid work.

For the University

• Pre-retirement contracts provide job opportunities for other employees.
• The contract period allows the University to know when a staff member will retire provides certainty for forward/succession planning.

For more information on the terms and conditions of pre-retirement contracts, please refer to the Collective Agreement or contact Human Resources.