Article 42 : retirement allowances

42.1 Regular employees who are not currently and who have not been on long term disability for a minimum period of three (3) months and who are not on leave without pay at the time of their retirement shall receive a retirement allowance in accordance with the terms and conditions set out in this Article.

42.2 Definitions

Standard salary for position: Salary corresponding to the standard of the pay grade for the position held by the employee who is retiring, in accordance with the salary scale in effect as of May 1, 2003, shown in 42.7.
Multiplication factor:
- is equal to 0.004 for employees who are less than 60 years of age or who have not reached "factor 90"
- is equal to 0.006 for employees who are at least 60 years of age or who have reached "factor 90" between the ages of 55 and 60
Factor 90: When the employee's age (expressed in years, months and days) plus his years of participation in the pension plan (expressed in years and half-months) totals at least 90.
Number of years of service at the University: Total number of years of active service at the University of Ottawa (expressed in years, months and days). This excludes years with other employers credited for pension purposes, years of leave without pay and years of service prior to continuous service at the University.
Number of years of service remaining before normal retirement age:

Number of years of service an employee still needs to work before reaching the normal retirement date, i.e. age 65 (expressed in years and months). This figure shall never exceed five (5) (i.e. it corresponds to five (5) for all employees between the ages of 55 and 60). It progressively decreases between age 60 and 65 to reach zero (0) at age 65.

CALCULATION FORMULA

42.3 Eligible employees who take their retirement between the ages of 55 and 65 are entitled to a retirement allowance calculated using the following formula:

[standard for position] x [multiplier factor] x [number of years of service at the University] x [number of years of service remaining before normal retirement age]

42.4 In accordance with the Income Tax Act, certain amounts may not be subject to taxation.

42.5 Employees shall give three (3) months of notice that they are retiring in order to receive the retirement allowance. Such notice is irrevocable. Employees who are planning to retire are encouraged to give as much notice as possible in order to help the faculty or service with its budget and succession planning.

42.6 Retirement allowances shall be payable in the month following the employee's retirement.

42.7

Classe	PTS	%	MINIMUM ($)	STANDARD ($)	MAXIMUM ($)	PDR (2%)
1	92-108	90	22 746	25 273	27 800	505
2	109-127	89	23 948	26 908	29 598	538
3	128-147	88	25 196	28 631	31 494	573
4	148-177	86	26 311	30 595	33 654	612
5	178-209	85	28 373	33 380	36 718	668
6	210-244	84	30 605	36 435	40 078	729
7	245-286	83	33 073	39 847	43 832	797
8	287-335	81	35 552	43 891	48 280	878
9	336-399	80	39 211	49 013	53 914	980
10	400-459	80	43 815	54 768	60 245	1095
11	460-540	80	49 253	61 566	67 723	1231

SALARY STRUCTURE 2003-2004, 35 HOURS/WEEK

Grade	PTS	%	MINIMUM ($)	STANDARD ($)	MAXIMUM ($)	PDR (2%)
1	92-108	90	22 746	25 273	27 800	505
2	109-127	89	23 948	26 908	29 598	538
3	128-147	88	25 196	28 631	31 494	573
4	148-177	86	26 311	30 595	33 654	612
5	178-209	85	28 373	33 380	36 718	668
6	210-244	84	30 605	36 435	40 078	729
7	245-286	83	33 073	39 847	43 832	797
8	287-335	81	35 552	43 891	48 280	878
9	336-399	80	39 211	49 013	53 914	980
10	400-459	80	43 815	54 768	60 245	1 095
11	460-540	80	49 253	61 566	67 723	1 231

Classe	PTS	%	MINIMUM ($)	STANDARD ($)	MAXIMUM ($)	PDR (2%)
1	92-108	90	23 558	26 176	28 793	524
2	109-127	89	24 803	27 869	30 655	557
3	128-147	88	26 095	29 654	32 619	593
4	148-177	86	27 251	31 687	34 856	634
5	178-209	85	29 386	34 572	38 029	691
6	210-244	84	31 698	37 736	41 509	755
7	245-286	83	34 255	41 271	45 398	825
8	287-335	81	36 822	45 459	50 005	909
9	336-399	80	40 611	50 764	55 840	1 015
10	400-459	80	45 380	56 724	62 379	1 134
11	460-540	80	51 012	63 765	70 141	1 275

SALARY STRUCTURE 2003-2004, 36.25 HOURS/WEEK

Grade	PTS	%	MINIMUM ($)	STANDARD ($)	MAXIMUM ($)	PDR (2%)
1	92-108	90	23 558	26 176	28 793	524
2	109-127	89	24 803	27 869	30 655	557
3	128-147	88	26 095	29 654	32 619	593
4	148-177	86	27 251	31 687	34 856	634
5	178-209	85	29 386	34 572	38 029	691
6	210-244	84	31 698	37 736	41 509	755
7	245-286	83	34 255	41 271	45 398	825
8	287-335	81	36 822	45 459	50 005	909
9	336-399	80	40 611	50 764	55 840	1 015
10	400-459	80	45 380	56 724	62 379	1 134
11	460-540	80	51 012	63 765	70 141	1 275

Classe	PTS	%	MINIMUM ($)	STANDARD ($)	MAXIMUM ($)	PDR (2%)
1	92-108	90	24 370	27 078	29 786	542
2	109-127	89	25 658	28 830	31 713	577
3	128-147	88	26 995	30 676	33 744	614
4	148-177	86	28 191	32 780	36 058	656
5	178-209	85	30 399	35 764	39 340	715
6	210-244	84	32 791	39 037	42 941	781
7	245-286	83	35 436	42 694	46 963	854
8	287-335	81	38 091	47 026	51 729	941
9	336-399	80	42 011	52 514	57 766	1 050
10	400-459	80	46 944	58 680	64 548	1 174
11	460-540	80	52 771	65 964	72 560	1 319

SALARY STRUCTURE 2003-2004, 37.5 HOURS/WEEK

Grade	PTS	%	MINIMUM ($)	STANDARD ($)	MAXIMUM ($)	PDR (2%)
1	92-108	90	24 370	27 078	29 786	542
2	109-127	89	25 658	28 830	31 713	577
3	128-147	88	26 995	30 676	33 744	614
4	148-177	86	28 191	32 780	36 058	656
5	178-209	85	30 399	35 764	39 340	715
6	210-244	84	32 791	39 037	42 941	781
7	245-286	83	35 436	42 694	46 963	854
8	287-335	81	38 091	47 026	51 729	941
9	336-399	80	42 011	52 514	57 766	1 050
10	400-459	80	46 944	58 680	64 548	1 174
11	460-540	80	52 771	65 964	72 560	1 319

Classe	PTS	%	MINIMUM ($)	STANDARD ($)	MAXIMUM ($)	PDR (2%)
1	92-108	90	25 995	28 884	31 772	578
2	109-127	89	27 369	30 752	33 827	615
3	128-147	88	28 795	32 721	35 994	654
4	148-177	86	30 070	34 965	38 462	699
5	178-209	85	32 426	38 148	41 963	763
6	210-244	84	34 977	41640	45 804	833
7	245-286	83	37 798	45 540	50 094	911
8	287-335	81	40 631	50 161	55 178	1 003
9	336-399	80	44 812	56 015	61 617	1 120
10	400-459	80	50 074	62 592	68 852	1 252
11	460-540	80	56 289	70 361	77 397	1 407

SALARY STRUCTURE 2003-2004, 40 HOURS/WEEK

Grade	PTS	%	MINIMUM ($)	STANDARD ($)	MAXIMUM ($)	PDR (2%)
1	92-108	90	25 995	28 884	31 772	578
2	109-127	89	27 369	30 752	33 827	615
3	128-147	88	28 795	32 721	35 994	654
4	148-177	86	30 070	34 965	38 462	699
5	178-209	85	32 426	38 148	41 963	763
6	210-244	84	34 977	41640	45 804	833
7	245-286	83	37 798	45 540	50 094	911
8	287-335	81	40 631	50 161	55 178	1 003
9	336-399	80	44 812	56 015	61 617	1 120
10	400-459	80	50 074	62 592	68 852	1 252
11	460-540	80	56 289	70 361	77 397	1 407