Leap years and your pension

February 29, 2016

2016 is a leap year. What does the extra work day mean for your pension?

Every four years we get to enjoy an extra day in February. This year, February 29 falls on a Monday. What does this extra work day in the calendar mean for your pension?

The answer is…

Nothing, really.

Here's why:

Pension credit is determined using school year calendars, and the Ministry of Education sets these calendars. They're usually 194 days.

The bottom line: in a leap year, you really don't work an extra day. The working days in the school year are just redistributed.