Office of the Vice-President, Finance and Administration
Date and Instance of Approval
January 16, 2007
Executive Committee of the Board of Governors
June 7, 2018
April 14, 2020
June 2, 2022
Approved Executive Committee of the Board of Governors X2007.3
To maintain competitive compensation practices designed to retain employees entitled to a retirement allowance prior to May 1, 2018, who have a variety of skills, perspectives and experiences, in order to meet the University’s strategic objectives.
2. DEFINITIONS AND INTERPRETATION
2.1 The following terms have these meanings for the purposes of interpretation of this policy as well as its related procedure:
- Regular employee: Any part-time or full-time employee holding a position of indeterminate duration.
- Regular positions: A position of indeterminate duration.
- Position eligible for a retirement allowance: A regular non-unionized support staff position classified as confidential (NC) or management (NM).
- Confidential (NC): A grouping of non-managerial positions that are non-unionized because of their confidential nature, including support, administrative and technical positions.
- Management (NM): A grouping of managerial, specialized and professional positions.
3.1 Policy 53 governs awarding of the retirement allowance payable to eligible employees on their retirement in recognition of their years of service.
4.1 In recognition of their years of service to the University, regular non-unionized support staff eligible for a retirement allowance are entitled to receive this allowance according to the formula below.
5. ELIGIBILITY AND EXCLUSIONS
5.1 To be eligible for a retirement allowance, regular employees must:
- hold a position eligible for a retirement allowance at the time of retirement, and
- have become entitled to a retirement allowance (regardless of the group they belonged to) prior to May 1, 2018, and
- be between 55 and 65 years of age on their retirement date, and
- and to their manager three months prior to their retirement date.
5.2 Exclusions: Employees on unpaid leave not covered by legislation (not including long-term disability leave) on the date of retirement are not eligible for a retirement allowance.
5.3 Exceptions: No exceptions can be made to this policy without the written consent of the Associate Vice-President, Human Resources.
6. CALCULATION FORMULA
6.1 The retirement allowance is calculated according to the following formula:
[standard salary for position] x [multiplication factor] x [number of years of service at the University] x [difference between the employee’s retirement date and the normal retirement date]
- Standard salary for position: Salary matching the standard of the salary class for the base position held by the retiring employee, based on the salary scale in effect on May 1, 2003 (according to ).
- Multiplication factor:
- 0.004 for employees less than 60 years of age who have not reached “factor 90”
- 0.006 for employees at least 60 years of age or who reached “factor 90” between the ages of 55 and 60
- Factor 90: When the employee's age (in years, months and days) plus years of credited service in the pension plan (in years, months and half-months) totals at least 90.
- Number of years of service at the University: Total number of years of continuous service at the University of Ottawa (in years, months and days) on the retirement date. This excludes years with other employers credited for pension purposes, periods of unpaid leave not covered by legislation and prior periods of employment at the University.
- Difference between the employee’s retirement date and the normal retirement date: The difference in the number of years of service between the employee’s retirement date and the normal retirement date (at 65 years of age). For employees between 55 and 60 years of age, the maximum number of years is set at five. It gradually decreases between age 60 and 65 to reach 0 at age 65.
7.1 All support staff are encouraged to give the longest advance notice of retirement possible, to facilitate succession and budget planning. To receive a retirement allowance, you must adhere to the retirement date indicated in your notice of retirement. If you change your retirement date, you will lose your right to a retirement allowance.
8.1 The Human Resources service develops, updates and implements procedures for approval by the Vice-President, Finance and Administration, related to determinations made under and administration of this policy.
8.2 The Human Resources service must also ensure that retirement allowances are paid in accordance with the applicable policies.
8.3 All final decisions regarding questions and disputes related to this policy are under the purview of the Associate Vice-President, Human Resources.
9. REVIEW AND IMPLEMENTATION
9.1 The Vice-President, Finance and Administration is responsible for review of this policy every five years or as necessary.
9.2 Human Resources is responsible for implementing and interpreting this policy.
9.3 The Vice-President, Finance and Administration is responsible for approving the establishment, modification or repeal of procedures in relation to the implementation of this policy.
10.1 The Vice-President, Finance and Administration can recommend amendments to this policy for approval by the Executive Committee of the Board of Governors.
10.2 Notwithstanding section 10.1 of this policy, the Secretary-General can amend this policy without the approval of the Executive Committee of the Board of Governors if such an amendment is necessary to:
- update or correct the name or title of a position, unit, law, by-law, policy, procedure or authority, and/or
- correct punctuation, grammar, typographical errors, revisions to format and other technical revisions, where appropriate, if the correction does not change the meaning of a provision or make such other correction if it is patent both that an error has been made and what the correction should be, and/or
- correct the form of expression of a provision in French or in English to be more compatible with its form of expression in the other language, and/or
- make consequential amendments to conform with the law or with another University of Ottawa policy, procedure or resolution.
Published January 16, 2007
Revised June 2, 2022
(Human Resources Service)