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Early Retirement with an Unreduced Pension

Starting at age 60 – early retirement with an unreduced pension

Employees are eligible for early retirement with an unreduced pension starting at age 60 if:

  • Their age + (hours worked divided by 1,400) = 70 or more (Rule of 70)

The table below illustrates this condition for different ages.

Employee aged Minimum hours
worked required
Calculation (hours worked ÷ 1,400) + age
60 years 14,000 14,000 ÷ 1,400 = 10  → 10 + 60 years = 70
61 years 12,600 12,600 ÷ 1,400 = 9  → 9 + 61 years = 70
62 years 11,200 11,200 ÷ 1,400 = 8  → 8 + 62 years = 70
63 years 9,800 9,800 ÷ 1,400 = 7  → 7 + 63 years = 70
64 years 8,400 8,400 ÷ 1,400 = 6  → 6 + 64 years = 70
Note : the age is calculated in days; thus, an employee whose age is 60 years and 100 days may apply and be eligible for retirement without a reduction in pension if he or she has 13,650 hours worked (because 13,650 ÷ 1,400 = 9.75 and 60.27 years + 9.75 = 70.02).

An employee who does not have enough hours worked to satisfy the rule of 70 (for example, the employee is 60 and is credited with 10,000 hours worked) may be eligible for early retirement with a reduced pension.

Starting at age 55 – early retirement with an unreduced pension 

Employees are eligible for early retirement with an unreduced pension starting at age 55 if the following two conditions are met:

  • Age + (hours worked divided by 1,400) = 80 or more (Rule of 80 for hours)

AND

  • Age + years of membership = 80 or more (Rule of 80 for membership)

The table below illustrates these conditions for different ages.

Age Minimum
hours
worked
required
Minimum
years of
membership
 
Hours calculation
(hours worked ÷ 1,400) + age
Membership calculation
55 35,000 25 35,000 ÷ 1,400 = 25  → 
55 + 25 = 80
55 + 25 = 80
56 33,600 24 33,600 ÷ 1,400 = 24  → 
56 + 24 = 80
56 + 24 = 80
57 32,200 23 32,200 ÷ 1,400 = 23  → 
57 + 23 = 80
57 + 23 = 80
58 30,800
22 30,800 ÷ 1,400 = 22  → 
58 + 22 = 80
58 + 22 = 80
59 29,400
21 29,400 ÷ 1,400 = 21  → 
59 + 21 = 80
59 + 21 = 80
Note : age is calculated in days. The employee must have contributed to the pension plan during a year in order for that year to count as a year of membership.

Employees who wish to apply for retirement must contact the CCQ's Customer Services to obtain the Application for Pension Benefit form.

Employees who do not have enough hours in their file to satisfy the rule of 80 (for example, an employee who is 55 years old and has 10,000 hours worked in his file), or have the minimum number of hours worked but not the minimum years of participation (for example, an employee is 55 years old and has 35,000 hours worked but only 21 years of membership), may be eligible for early retirement with a reduced pension.