The plan offers three main types of pensions:

1. Unreduced retirement pensions
2. Reduced retirement pensions
3. Disability pensions

1. Unreduced retirement pension
You qualify for an unreduced retirement pension when you reach your 85 factor (age + qualifying years = 85), or at age 65.

2. Reduced retirement pension
If you're not eligible for an unreduced pension by the time you want to retire, you can take a reduced retirement pension when you are at least 50 and have two or more qualifying years of service.

Immediate reduced pension
An immediate reduced pension is when you resign from teaching and begin collecting your pension the following month. Immediate pensions are reduced by 2.5% for each point you are away from the 85 factor (or 5% per year from age 65, whichever is less).

Deferred pension
If you do not begin collecting your pension immediately after you cease to be employed, the reduction is greater. Deferred pensions are reduced by 5% for each point you are away from the 85 factor (or 5% per year from age 65, whichever is less).

3. Disability pension
You may be entitled to a disability pension if you become disabled while you are employed in education, can no longer work in any capacity, and you have at least 10 qualifying years.

Partial disability pension
If you're partially disabled and unable to teach, you may take a reduced disability pension, provided you do not return to teaching. Your partial disability pension is calculated like a regular disability pension and then reduced by 2.5% for each point you're under the 85 factor or each year under age 65 (whichever is less).

For more information, read our Sick and Disability Benefits fact sheet (46 KB PDF).

Pension age limit
You must begin collecting your pension when you reach the pension age limit, even if you continue to work.

• If you turned 69 before 2007, you must begin collecting your pension in December of the year in which you turn age 69.
• If you turned 69 after 2006, you must begin collecting your pension in December of the year in which you turn age 71.