Full Service Pension
(TPP Coordinated with CPP)
A teacher is eligible to receive a full service pension under the TPP
- at age 55 when age and service total at least 85.
- with 35 or more years of pensionable service regardless of age.
- at age 60 with ten or more years of pensionable service.
- at age 65 with two years of service (as of January 1988).
A FULL SERVICE PENSION UNDER THE TPP IS 2% OF SALARY FOR EACH YEAR OF SERVICE TO A MAXIMUM OF 70%. THE SALARY USED IS THE AVERAGE OF THE FIVE HIGHEST YEARS.
A maximum service pension is 70% and can only be obtained with 35 or more years of service.
When a full service pensioner under the TPP reaches age 65 his/her previous pension under the TPP is recalculated and readjusted. Upon integration the teacher receives two cheques, one from TPP and one from CPP. Retired teachers may elect to receive "normal" amounts of CPP at age 65, or reduced CPP benefits, payable as early as age 60.