Retiree Benefits

Thinking of Retiring?

​

Begin with my OMERS 

​

NRA60

Firefighters have the option of having a normal retirement age of 60 (NRA60).

​

The OMERS website is full of information that will tell you how OMERS works, can estimate your pension, and will layout Retirement or Early retirement options.

​

Please click on our About OMERS page for more information related to fire fighters.

 

Payout of Sick Credits

Upon retirement a member will have 50% of their sick credits paid out, to a maximum of 1/2 a year’s annual salary.

 

Read the section in the Collective Agreement that covers Payout of Sick Credits.  It includes how payout is affected by Silo, if you were hired before October 23rd 2002.

 

Depending on your date of employment, some of this money may be transferred into a RRSP. To do so you must fill out the DIRECT TRANSFER OF AN ELIGIBLE RETIRING ALLOWANCE form. If you transfer the lump sum to an RRSP there will not be any income tax taken off. Your pay-out for sick days may be put into your RRSP. The money cannot be put into your spousal RRSP. You are advised to see an independent financial planner regarding your severance.

 

If you have any holiday time, time owing, overtime or any other credits coming to you, you may put this in either your or your spousal RRSP. Only if you have room in your entitlement. The form required is the TRANSFER TO REGISTERED RETIREMENT PLAN form. You are advised to see an independent financial planner regarding your payout of holidays.

 

To find out if you have any RRSP entitlement see your last Notice of Assessment form that you received from Canada Revenue Agency (CRA).

 

If you are transferring money into a retiring plan or a RRSP call Keri-Ann Campbell at the City of Ottawa Pension/Benefits: 580-2424 ext. 22647.  Fax 580-2604. Address: 100 Constellation Dr.  She will require copies of the DIRECT TRANSFER OF AN ELIGIBLE RETIRING ALLOWANCE and/or TRANSFER TO REGISTERED RETIREMENT PLAN

 

 You’ve Decided

We recommend that you retire on the last day of the month. That will be the day of your last available shift. This is because OMERS payments start on the first day of the month. There can be up to a month delay before your first (1st) OMERS pension check will be issued.

 

Once you decide on your retirement date, you will need to notify your Deputy Chief and Theresa Martin at Pension/Benefits. .  A sample Retirement Letter shows what you need to send.  It is very basic.

 

Two months prior to your retirement, book an appointment with the Deputy Chief in charge of your division. You may call their assistants for your appointment.

​

At this meeting bring in the following:

· A copy of your retirement letter (see above).

· Bring in your turn-out clothes, coat, and pants if applicable. These may be dropped off with maintenance. Maintenance will issue you with a receipt. You may keep the boots and helmet.

· City ID card, cell phone, car keys, pager etc.

 

At least one month before you plan to retire, be in touch with Theresa Martin at Pension/Benefits and make an appointment to see her. (613) 580-2424 Ext : 28966 - theresa.martin@ottawa.ca

 

Bring the following:

·  Your birth certificate and/or identification card with your picture.

· One (1) void cheque. (For automatic deposit)

Theresa will submit your application for your OMERS pension. She will brief you on everything you need to know, and are required to do, as well as explain what extended health benefits you will have.  She will guide you to any forms that you need to fill out.

 

Upon retirement you have a choice of staying in the benefit program. You will be asked to fill an Application for Retiree Extended Health Care form at the Pension and Benefits office.   Please ask for a copy of the benefit booklet.

 

Life Insurance

Your life insurance will terminate on your retirement.

· Life Insurance Conversion

Members who are retiring many convert up to $ 200,000 of group life insurance to an individual insurance. This conversion must be done within the 30 days of your retirement.

Members interested must call the HR Service Centre 580-2424 ext. 47411.

 

 

Attend a retirement seminar The City of Ottawa Learning Centre offers a half day OMERS information session delivered by an OMERS expert. The Learning Centre also offers a one day Retirement Planning information session providing you with information on planning all areas of your life. You may register on-line through Ozone (under Employee Info tab then select My Training and Development – Register for Training) or call 613-580-2424 extension 47411.

 

Access the current City of Ottawa Preparing for Retirement in Ozone

 

Retirement Gift from the OPFFA:

Although there has been a pandemic interruption, the Association provides a retirement gift to each member at the Reunion Dinner. You can choose from a watch, a ring or a plaque, with your badge mounted. Photo

Please fill out the Gift Form once you’ve decided your retirement date. You will need to send this form to the RA Chair, Mike Giroux. ( mgiroux@ottawafirefighters.org )

 

Retiree Benefits:

Letter of Understanding #7 Retiree Benefits

 

Sick Benefit Fund

You can find the Sick Benefit Fund Policy book here. If you are a member of the Fund and wish to remain a member of the Sick Benefit Fund after retiring, you must notify the manager before your retirement. You will need to fill out the enrollment form (which you can obtain from the SBF Chair or SBF manager); sign, scan and email to sbfmanager@ottawafirefighters.org with a void cheque. The monthly fee for retirees, is now $21.00.

 

If you have any questions about the Sick Benefit Fund please contact the SBF Chair Geoff Randall grandall@ottawafirefighters.org or the SBF Manager at sbfmanager@ottawafirefighters.org