Working after retirement: what you need to know

Retirement doesn’t always mean the end of your career. Find out what happens if you go back to work after your pension starts.

There are many reasons you might return to work after retirement, from staying active to earning extra cash. Whatever your reason for going back to work, there are a few things you need to know.

Returning to work for an employer in the Teachers’ Pension Plan

If you return to work for an employer in the Teachers’ Pension Plan after retirement, you’ll continue to receive your pension. You won’t make new contributions or earn more service.

To ensure your new employer doesn’t enrol you in the plan, let your new employer know that you are a retired member receiving a pension.

Note that if you apply for your pension but return to work for a plan employer before your first pension payment is made, you are not considered a retired member. You cannot return to work for a plan employer as a retired member until you've received your first pension payment.

Returning to work for an employer in a different pension plan

If you return to work for an employer covered by a different pension plan, you may be eligible to enrol in that plan. Talk to your new employer for more information and to find out if you’re eligible.

Whether or not you enrol in the new pension plan, you’ll continue to receive your monthly pension from the Teachers’ Pension Plan.

Health coverage

If your new employer offers health and dental coverage, you may choose to cancel any coverage you have through the pension plan. However, you will be able to re-enrol in the plan’s coverage in the future only if you’ve been continuously covered since you initially cancelled.

Taxes

Adding a new source of income can increase the tax you owe. Talk to your financial adviser or a tax professional for help understanding what that means for you.

Contact us through My Account Message Centre if you’d like to increase your monthly tax deduction.

To help us complete your request, include the exact amount you’d like deducted from your pension. Describe the amount you want deducted in one of these ways:

• Total dollar amount
• Additional dollar amount
• Total per cent

Other retirement benefits

Changes to your income may affect your eligibility for other retirement benefits. Contact the Government of Canada for information about how returning to work could affect your access to benefits like the Canada Pension Plan and old age security.