Once you have made the decision to retire, planning for that change includes taking time to think about your retirement checklist. The following are questions and information that we encourage you to review and consider as part of that planning process. 

I have decided to retire. How do I notify my employer?

Review your board’s Terms and Conditions (T&C) agreement to determine if there are specific requirements for your notice of retirement, including mandatory timelines. Review the method of notification of retirement/resignation that is in place. Some boards have migrated to an electronic form that is to be completed; others require written notification. If a letter is required, clearly lay out your expectations and understanding, including 

  • that your full salary will be paid out by your retirement date 

  • that your full vested gratuity (vested as of August 2012) will be paid out, where applicable; and, if you hope to use your gratuity to contribute to your RRSP and defer the tax burden, request that the board provide advice on its procedure 

  • that the board send you written confirmation acknowledging receipt of the notice of retirement and 

  • that the board notify you if your expectations are inaccurate. 

Note that once your intent to retire/resign is submitted, it is irrevocable except by mutual agreement. Contact the OPC to discuss any challenges you may have with the retirement process. 

What should I do with the records and notes that I maintained as a principal/ vice-principal?

You should comply with your board’s records retention policy, which is governed by the Municipal Freedom of Information and Protection of Privacy Act.  The policy (and applicable legislation) will apply to records, notes and files that you may have maintained, and which contain "personal information" including records related to employment issues. Such records belong to the board and must be maintained in accordance with the retention policy. 

MFIPPA requires personal information to be retained for a minimum of at least one year after use, or for a period set out in a bylaw or school board resolution, whichever is shorter. However, it is best practice to have the records retained for a minimum of 2.5 years post-retirement. Although most litigation must be commenced within the two-year limitation period for Ontario, complaints before the Ontario College of Teachers (OCT) involving historical allegations can arise at any time. Accordingly, it is useful to have records related to contentious matters preserved to defend against such allegations. 

If you believe that a particular matter may be the subject of litigation against the board or you, you should contact the board and ask to keep the records as part of its litigation files. This would signify the need for a longer retention period under the board's policy. 

What about my membership with the Ontario College of Teachers?

You should consider whether you wish to pay the annual fee to maintain active membership with the OCT. You must be certified by the College if you plan to work as an occasional teacher or administrator in Ontario’s publicly funded schools after your retirement. If you don’t plan on performing any further work for which a certificate is required, you may consider formally resigning from the OCT after your retirement date. 

What about my OPC membership and OPC LTD/AD&D/Life Insurance coverage?

It is your responsibility to notify the OPC of your retirement and cancel your membership as of the date of your retirement. If you wish to remain connected with the OPC and continue to receive our communications or to maintain your optional life insurance coverage, where applicable, become an Associate. 

If you are planning to work as a temporary administrator, you must have a membership for term assignment with the OPC to secure Protective Services for any issues relating to your post-retirement work. Review the Supply Administrator Positions tip sheet for more information on temporary assignments. Protective Services coverage will continue to be available for events or circumstances that arose before your retirement, provided you were an OPC Member in good standing.   

If you currently participate in the OPC Group Benefits plan (LTD, AD&D, life insurance), contact opcbenefits@principals.ca to discuss the maintenance/termination of your coverage post-retirement. Eligibility for LTD ends at retirement. If you have this coverage, you will need to request termination to avoid paying premiums that are only refundable for up to four months. Optional term life/AD&D insurance coverage can be maintained post-retirement with an active Associate status. 

Where can I find more information relating to health, dental and paramedical benefits after retirement?

ONE-T does not provide benefits to principals and vice-principals in retirement. However, most principals and vice-principals will be eligible for medical benefits after retirement from other sources. 

An overview of the post-retirement insurance options can be found here.  

For more information, you may wish to consult the following: 
Retired Teachers of Ontario   
Ontario Teachers Insurance Plan
Trillium Drug Program for expensive drugs that your benefits plan may not cover. 

How do I confirm my pension?

For general information about your pension, see the Ontario Teachers' Pension Plan (OTPP) website for FAQs, pension calculator and limits to re-employment. The OPC does not have any individual pension information, so it is recommended that you contact OTPP directly before finalizing your retirement plans.   

What other things should I consider doing before retirement?

Remember to update your email address and phone number on your OPC and OCT portals.   

Boards typically discourage use of board email for personal purposes. However, if you have used your board email for personal banking, to subscribe to newsletters, CRA alerts and/or any other services, please update your mailing address with these providers. Also consider unsubscribing to these alerts from your board accounts. 

Soon after you retire, you will lose access to your board email.  If you have personal confidential information such as CRA alerts or personal bank statements, consider saving copies for yourself. 

Consider registering for retirement planning workshops offered by  RTO/ERO or OTIP. 

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