If you are age 55 or over, you are eligible to retire and elect the FPP retirement income options. The FPP Retirement Guide provides a step-by-step approach that will help you navigate your journey to, and through, retirement.

Use the Retirement Income Estimator tool to help you determine what your retirement income will be and how much you will need to save in order to achieve your retirement goals.

To access the Retirement Income Estimator, sign in to your account at and then select Investments > Manage Plan > my plan > Tools > Retirement Income Estimator.

Learn about each UBC retirement option by clicking on the links below. You may use all or part of your account balance for each of the following.

You will find the applicable forms for each of the options by clicking into the options below. Members may use the Retiree Checklist to assist them with completing their application to commence a UBC Faculty Pension Plan VPLA, RRIF-Type or LIF-Type Payment option.

UBC Faculty Pension Plan Options

  1. Defer Your Decision – Leaving Funds in the Plan
  2. Purchase a UBC FPP Variable Payment Life Annuity (VPLA)
  3. Receive UBC FPP RRIF-Type Payments – non locked-in funds only
  4. Receive UBC FPP LIF-Type Payments – locked-in funds only

External Options

  1. Transfer to an External RRIF – non locked-in funds only
  2. Transfer to an External LIF – locked-in funds only
  3. Purchase an External Life Annuity
  4. Transfer to an External RRSP or LIRA
  5. Withdraw Cash – non locked-in funds

View the Retirement Options Matrix for a summary of the available options.

View your options if you have funds in the Supplemental Arrangement.

Attend an Understanding Your Retirement Income Options seminar to explore all options in detail. Click here to learn more and to register.

We recommend that you review your options carefully and encourage you to seek independent financial advice. The Government of Canada website offers comprehensive information regarding Choosing a Financial Advisor.

Other Considerations

Pension Income Splitting

Eligible taxpayers may allocate up to half of their eligible pension income (income that qualifies for the pension income tax credit) to their lower-earning spouse or common-law partner. Visit the CRA site for more information on pension splitting and the application form to make this election.

Non-Residents of Canada

See Living Outside Canada if you are or will become a non-resident of Canada.

Government of Canada Income Security Programs

You may be eligible for government pensions in retirement. Read about a variety of considerations regarding the Canada Pension Plan (CPP) and Old Age Security (OAS) in the following article: Canada Pension Plan Retirement Income. To obtain more information and to apply online for the CPP and OAS, visit the Government of Canada’s Pensions and Retirement website.

Reduced Appointments

If you are considering a reduced appointment with UBC to ease into retirement, please refer to Easing Into Retirement on the Faculty Relations website and discuss your eligibility with the head of your academic unit.

Group Health Coverage

The Retirement and Survivor Benefits Program (RSB) offers a continuation of group benefits to UBC community members who retire or leave the University for any reason after age 55.

You may also be interested in the emeriti benefit programs offered by Johnson Inc. through the UBC Emeritus College.

Resources & Tools

Retirement Guide (PDF)

Retirement Options Matrix (PDF)

Retirement Income Estimator

Sign in to, then under Investments, select Manage Plan > my plan > Tools > Retirement Income Estimator 

Investment Education