APUO Phased Retirement Program
The new Transition to retirement benefit is available to APUO members who wish to have a reduced workload in the last years before their normal retirement date. This is available to members who are eligible to receive the benefit detailed under subsection 40.3.1 (the normal retirement date is defined as July 1st following age 65). The program allows members to bring their regular salary up to their nominal salary using portions of the severance payment that would be payable to them under 40.3.1. During the transition period, members accumulate full pension credits as per the provision of the Pension Plan by contributing up to the level of their nominal salary. This commitment to retire is irrevocable at the termination of the transition period once the agreement has been signed.