When you can retire

Learn how your age at retirement affects your pension.

1. When you can retire for regular members

3. When you can retire for correctional officers

2. When you can retire for ambulance paramedics

When you can retire for ambulance paramedics

Although you may be able to apply for your pension as early as age 50, your pension will be reduced if you stop working for a plan employer before you turn 55 and do not meet the criteria for an unreduced pension.

Sign in to My Account and use the Personalized Pension Estimator to find out what your monthly pension might be, based on your salary and years of service.

Plan rule changes implemented April 1, 2020, affect your service differently. This table compares retirement rules before and after the plan rule changes:

	Old rules (applies to service before April 1, 2020)	New rules (applies to service April 1, 2020, onward)
Less than 2 years contributory service
Unreduced early retirement age	65	60
Earliest reduced retirement age	55	50
Reduction factor	5% per year from age 65	6.2% per year from age 60
Between 2 and 10 years contributory service
Unreduced early retirement age	60	60
Earliest reduced retirement age	55	50
Reduction factor	5% per year from age 60	6.2% per year from age 60
Between 10 and 25 years contributory service
Unreduced early retirement age	60	55
Earliest reduced retirement age	50	50
Reduction factor	3% per year from age 60 (or rule of 80)	6.2% per year from age 55
More than 25 years contributory service
Unreduced early retirement age	55	55
Earliest reduced retirement age	50	50
Reduction factor	A 3% reduction will apply if you terminate your employment* after age 50. If you terminate your employment before age 50, there will be a 5% reduction per year.	6.2% per year from age 55

* ”Terminating employment” means that you stop working for a plan employer and do not start contributing to the plan again with another plan employer. If you terminate your employment you can begin to take a reduced or unreduced pension.