Working Past Age 71 - Pension Implications

The Income Tax Act (ITA) requires that an employee cannot continue to accrue Pensionable Service after December 1st of the calendar year in which s/he turns age 71. As such, pension contributions will cease as of the preceding November 30th. The ITA requires that the employee start collecting his/her pension as of December 1 of the year s/he attains age 71.

The remainder of employment conditions will remain the same (excluding benefit implications as determined in accordance with the applicable benefit plans). Please see the following link for further details.  

Please do not hesitate to contact us at extension 222HR (x 22247) with any questions.