Other Retirement Options
With the ending of mandatory retirement, SFUFA and SFU agreed to the following two options that are available to members aged 60 and over with at least 10 years of service:
Option 1: Reduced Workload Appointment
Over a period of up to three years, a member may choose to reduce her/ his workload provided s/he provides irrevocable notice of retirement. Salary is reduced commensurate with workload, while pensions and benefits continued to be based on normal salary.
Over the three year period, the total amount worked must be between 150% and 225%, i.e. no less than 50% and no more than 75% when averaged over the entire period. In this option, a member must perform the full scope of duties, though at a reduced rate.
The reduced workload option is a right and cannot be denied provided the member meets the eligibility criteria.
Option 2: Reduced Scope Appointment
A member may request, for a period of up to three years leading to retirement, a reduced scope appointment, in which one work in one area of duties (i.e. teaching or research) is reduced in exchange for an increase in other areas. Unlike the workload reduction (above) this option is at the sole discretion of the Dean upon recommendation by the unit Chair or Director, and is not a right. Members may seek to combine this option with the workload reduction.
Full details of the retirement options are available here.