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 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).
Senior Managers, Administrative Staff and Excluded Support Staff, hired prior to January 1, 2003*, shall receive a cash payout of accumulated sick leave in accordance with Public Sector Employers Amendment Act (Bill 66).
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).
Group Benefit Coverage Group benefit coverage for Senior Managers, Administrators and Excluded Staff, will cease at the end of the month following the month of retirement. Group benefit coverage for Faculty, Vocational Instructors and Support Staff will terminate on your retirement date. Please note that any outstanding claims must be submitted to Manulife within 90 days of termination of your benefits.
Life insurance can be converted to an individual life insurance policy under the Manulife contract within 31 days following termination of group plan coverage without any requirement for proof of health. If you are considering other options, please keep the 31 day contractual deadline in mind as this is strictly enforced. For more information about applying for conversion of your group life coverage to an individual policy, contact Manulife Financial Customer Service Centre toll-free at 1-800-268-6195.
When applying for your BC Pension, you will have the option of applying for group coverage offered through your Provincial Pension Plan for BC Medical (MSP), extended health and dental coverage whereby the applicable premium(s) will be deducted directly from your monthly pension payment.
Apply for individual Health and Dental coverage as long as you apply within 60 days of termination of group plan coverage. Full details regarding Manulife's individual coverage options may be found at www.coverme.com or by calling 1-877-COVERME.
Approximately six months prior to your retirement, you will need to contact the College Pension Plan (for Senior Managers, Administrative Staff,Faculty, Vocational Instructors) toll-free at 1-888-440-0111 or the Municipal Pension Plan (for Excluded Support Staff, 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.
Your eligibility for further tuition reduction benefits ceases on your date of retirement.
A T4 will be issued by February 28 of the following year and will be mailed to your last known address. Please ensure Okanagan College is apprised of any address changes until you receive your final T4.