The TPPC advises that federal government pension regulations may prevent retroactive payment to July 1, 2018 for any pension applications received between July 1 and August 31. Therefore, it is important that you submit all documents no later than June 30, 2018.
Under the Teachers’ Pension Plan, eligible teachers can begin receiving their pension in the month following their resignation and submission of their pension application.
Therefore, a teacher who submits their resignation notice and pension application by June 30, 2018 will be eligible to begin receiving a pension benefit in July 2018. However, a teacher who submits their resignation notice and pension application in July 2018 will not be eligible to begin receiving a pension until August 2018; a teacher who submits their documentation in August will not receive a pension until September, etc. The month in which a teacher may begin receiving their pension depends on the month in which a teacher chooses to retire and submit their pension application.
To be clear, as previously announced by the NLTA, March 31, 2018 was the resignation deadline for teachers planning to retire effective the end of the school year – as per Clause 12.02(c) of the Provincial Collective Agreement and Clause 48.02(c) of the Labrador West Collective Agreement. Teachers who have submitted their resignation to their school district and have submitted their pension application to TPPC on or before March 31 will receive their entire summer holdback pay as a lump-sum payment during the first pay period following the end of the school year, and will begin receiving pension benefits by July 31.
To help make it easier for you to learn more about your pension plan, we’re excited to announce the launch of our new pension website: www.tppcnl.ca.
Our new site is specifically designed to enable all of our members – including our pensioners – to easily access plan information at any time. Specifically, you can learn more about the timelines and deadlines you must follow and meet as you prepare to retire.
We encourage you to explore the site today!