Retirement Checklist

Once you know that you are financially and emotionally ready to retire, there are a number of steps you need to complete, including notifying the University and your department of your intent to retire. This page provides a “checklist” of the steps to complete.

Make an appointment with Human Resources – Appointments should occur 4-6 weeks prior to your first day of retirement.

This appointment will cover: 

For those collecting a pension

  • Confirm your contact information
  • Sign off on Retirement Option form
  • Complete a Direct Deposit form so that our Pension Administrator, CIBC Mellon can deposit your pension directly into your bank account
  • Complete TD1s (Federal and Provincial Tax Credit Returns) to establish the income tax deducted from your pension
  • If eligible, enroll in post-retirement Health & Dental benefits
  • Discuss Group Life insurance conversion option
  • Information about UGRA – the University of Guelph Retiree Association

For those cashing out their pension funds

  • Confirm your contact information
  • Be aware that you will not be eligible for post-retirement health or dental benefits
  • Arrange to transfer your pension funds to another financial institution
  • Discuss Group Life insurance conversion option
  • Information about UGRA – the University of Guelph Retiree Association

Notify your department in writing of your intention to retire on a specific date - Inform your department about your upcoming retirement and what your last day at work will be. Often individuals use up their remaining vacation prior to departure so their last day of employment is after their last day at work.

Speak with your department about their last day procedures - You may need to hand in equipment, keys, etc. Parking passes are returned directly to the Parking Office.

Vacation/Floater Days - Make arrangements to use up all your vacation/floater prior to your last day of employment.

Apply for government benefits - You should apply for your Canada Pension Plan and Old Age Security government benefits well in advance of your actual retirement.