 |
|
|
| > > Re-employment After Retirement |
Retired Member - Re-employment After Retirement
|
 Printable Version
The following information is intended to help you understand the impact re-employment may have on your pension.
|
You may want to know... |
|
What happens if you become re-employed in the Federal Public Service after you have retired?
What happens if you are re-employed in the Public Service once a transfer value has already been paid to you?
|
What happens if you become re-employed in the Federal Public Service after you have retired?
If you are re-employed in a position that does not require you to contribute to the Public Service Pension Plan (PSPP),
you can receive both your pension and the salary from your new position.
However, if you choose to become re-employed in the Public Service and begin contributing to the PSPP, your monthly pension (including indexing)
will cease, as you are unable to receive a PSPP pension and accumulate PSPP service simultaneously. Your monthly pension
will only be reactivated once you stop contributing to the PSPP, and will most likely be recalculated based on your combined pension credits
(those accumulated during both your initial period of employment and your re-employment period). The indexing amount payable will be based on your most recent date
of retirement. Additional information can be found by consulting the Superannuation, Pension Transition and Client Services Sector's
Annuitant Benefits Booklet.
|
What happens if you are re-employed in the Public Service once a transfer value has already been paid to you?
If you become re-employed in the Public Service and are contributing to the PSPP, you can elect to purchase
the pensionable service for which you received a
Transfer Value
benefit. Note that this option is available on a one-time basis only and a one-year deadline applies. Additional information may be found by visiting the
Reinstatement of Transfer Value Service
document. |
 |
