PEnsion 101

All numbers/ages in this article can be changed any time we go into provincial negotiations. If you are more than 20 years from retirement take all this information with a grain of salt, it will undoubtedly be different by the time you are retiring.

In the 1970's a group pension plan was created in Quebec that all education, health and social sector employees belong to. It doesn’t matter if you are full time, part time or casual supply. Any work you do in the education sector before the age of 70 or 40 years service contributes to your pension from RREGOP. You cannot opt out of the pension fund. 

There are two main parts to consider when thinking about pension:
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How much will I get?
Will I be penalized for retiring early

PENALIZED!?
Yep, if you retire earlier than the pension plan allows you will have your pension reduced by a percentage for every year you leave early. Currently you need to be 61 years old or have 35 years of service. The last option is being 60 with 30 years of service.

This requirement of years of service is why there are two numbers you need to be concerned about. If you’ve always worked 80% or higher, these two numbers are the same. Otherwise:

Years of credit for calculation of pension amount:
Every year you receive credit for the same percentage as your contract or the percentage that your taught hours correspond to. Full time teachers and teachers at 80% and above receive a full credit. Part-time teachers receive a partial year credit.  These can be bought back as they are based on contributions made to the pension plan.

Years for eligibility
There are several situations that even if you only accrue part of a year for pension calculations you still receive a full year of credit for eligibility. For instance most sick leaves and parental leaves are credited fully for eligibility. 

So how much money does someone get?
2%  x  calculation years x average of best 5 years = pension
If you have not met the requirements to retire (age or years of service) your pension will be reduced by 6% per year you are missing in age. This penalty is applied after the calculation above.
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So how much do I pay every year?
Contributions are calculated off of your yearly earnings minus an amount specified yearly by RREGOP. You pay 10.33% of this adjusted earning amount. 

There are situations under which you are exempted from contributions. These periods count as if you had paid then. This is usually due to a recognized disability of some kind.

There are many mitigating factors in pension calculations. The best people to contact about your specific case are RREGOP themselves.
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​All information taken from and more details can be found at:  https://www.retraitequebec.gouv.qc.ca/en/publications/rrsp/rregop/Pages/rregop.aspx
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