Final Paycheque(s) In most circumstances, you will receive your final paycheque on regularly scheduled OC paydays. If you do not have direct deposit, you will need to make arrangements with your department to receive your final paycheque(s).
Vacation Leave Balances Usually vacation time is taken as leave prior to retirement. Any unused vacation entitlements will be paid out on your final paycheque.
Retirement Leave and/or Payouts Upon retirement, BCGEU Support Staff and Excluded Support Staff on regular appointments shall be granted a leave or, at the employee’s option, a cash payout, equal to their accumulated sick leave (to a maximum of 60 days).
Administrators and Senior Administrators, hired prior to January 1, 2003*, shall be granted a leave or, at the employee’s option, a cash payout equal to their accumulated sick leave (to a maximum of 60 days).
BCGEU Vocational Instructors on regular appointments shall be granted a leave, or at the employee’s option, a cash payout, equal to 50% of accumulated sick leave.
Faculty on continuing appointments shall be entitled to a cash payment equal to their accumulated sick leave (to a maximum of 60 days).
BC Medical / Extended Health / Dental Coverage will continue until the end of the month following the month in which you retire.
Life Insurance, Accidental Death and Dismemberment, and Long-term Disability Retired employees are not eligible to convert insurances – coverage will terminate on your last day of work.
Retirement Allowance Upon retirement, BCGEU Support Staff and Excluded Support staff on regular appointments will be eligible for severance pay. Severance will be calculated based on the highest monthly salary and years of completed service as outlined in the Support Staff Collective Agreement.
Administrators and Senior Administrators shall be entitled to a cash payout. The cash payout will be calculated based on years of completed services as outlined in the Policy for Administrative Staff.
BCGEU Vocational Instructors on regular appointments shall receive a retirement allowance at the rate of five working days for every year of completed full-time equivalent service.
Pension Approximately six months prior to your retirement, you will need to contact the College Pension Plan (for Faculty, Vocational, Administrators) toll-free at 1-888-440-0111 or the Municipal Pension Plan (for Support Staff) toll-free at 1-800-668-6335 to request a retirement kit from the BC Pension Corporation. As a pension plan member, the retirement kit will provide you with everything you need to apply for your pension benefit and, if applicable, group BC Medical (MSP), extended health and dental coverage.
Keys / ID Card / College Property Prior to your retirement date, you will need to provide your supervisor with your OC ID card and all OC property that is in your possession including keys, equipment, pager, etc.
Tuition Reduction Your eligibility for further tuition reduction benefits ceases on your date of retirement.
T4 A T4 will be issued at the appropriate time and mailed to your last known address. Please ensure Okanagan College is apprised of any address changes until you receive your final T4.
If you have questions or need additional information, please contact your Human Resources Advisor.
