Plan Provisions

Eligibility for Pension

You are eligible for a pension when you are 55 years of age or more and have:

• 5 years of Pensionable Service after August 31, 1992, or
• 5 years of Pensionable Service that includes a period of Pensionable Service in each of the 1991-92 and 1992-93 school years, or
• 10 years of Pensionable Service.

Start of Pension

Pensions are payable from the later of the first of the month following:

• your 55th birthday,
• the termination of your last teaching contract,
• the last accrual of Pensionable Service with ATRF, or
• the last substitute service purchased.

See the Information Kit Choosing Your Retirement Date

Unreduced Pension

If you have sufficient Pensionable Service to be eligible for a pension, you can receive an unreduced pension when:

• the sum of your age and Pensionable Service is at least 85 (often referred to as the age-plus-service index of 85), or
• you are age 65 (normal retirement).

Reduced Pension

If you have sufficient Pensionable Service to be eligible for a pension and you retire before you are eligible for an unreduced pension (as outlined above), your pension will be reduced by 2% for each year or portion of a year that:

• your age-plus-service index is less than 85, or
• you are under age 65, whichever is less.

The maximum reduction is 20%.

Examples of Reduced Pensions

• A Plan member who is age 55 with 5 years of Pensionable Service would have an index of 60. There would be a 20% reduction in pension (25 years short of index, and only 10 years short of age 65; therefore, 10 years times 2% = 20% reduction).
• A Plan member who is age 60 with 22.5 years of Pensionable Service would have an index of 82.5. There would be a 5% reduction in pension (2.5 years short of index, and 5 years short of age 65; therefore, 2.5 years times 2% = 5% reduction).