When you can retire

Learn how your age at retirement affects your pension.

The age at which you apply for your pension will affect the amount of your lifetime monthly pension payment.

The normal retirement age for members of BC’s Teachers' Pension Plan is 65 and the earliest retirement age is 55. As required by the Income Tax Act, you must begin receiving your pension no later than December 1 of the year in which you turn 71, even if you are still working.

Qualifying for an unreduced pension

If you retire before your normal retirement age, your age at retirement and years of contributory service will determine if you are eligible for an unreduced pension.

If you do not apply to start your unreduced pension when you are eligible, you will not be entitled to have your pension backdated to a previous date. You are responsible for choosing the date your pension will start and you must apply to start your pension.

Although you can apply for your pension as early as age 55, your pension, including the bridge benefit (if applicable), will be reduced if you do not meet certain criteria.

For pensionable service earned before January 1, 2018, your pension will not be reduced at the date of your retirement if you are:

Age 55 to 59 and your age plus years of all contributory service totals at least 90 (known as the rule of 90)
Age 60 to 64 with at least two years of contributory service
Age 65 or older (no minimum contributory service requirement)

For pensionable service earned on and after January 1, 2018, your pension will not be reduced at the date of your retirement if you are:

Age 55 to 60 with at least 35 years of contributory service
Age 61 to 64 with at least two years of contributory service
Age 65 or older (no minimum contributory service requirement)

To learn more about how the changes may affect your 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.

You may want to talk to an independent financial advisor about which start date is best for you and your situation.