Retirement Benefits

When can I retire?

  • At the Normal Retirement Date
  • Early retirement
  • Late retirement
  • Although you cannot retire from the UCTRF before you have retired from your Employer, you do have the option to defer your retirement from the UCTRF even after you have retired from your Employer. In other words, you can elect to receive your Retirement Benefit at a later date.

These amounts will be deducted proportionately from the Vested Share and the Non-Vested Share of your benefit.

These include:



Early Retirement

With your Employer’s consent, you may retire early from age 55 onwards. You will have the same options as those who retire at the Normal Retirement Date. At the request of your Employer, you may retire from your Employer and the UCTRF at any time before the Normal Retirement Date, due to operational requirements or ill health.

Late Retirement

With consent from your Employer, you may also retire later than the Normal Retirement Date, but your UCTRF death cover will stop at the Normal Retirement Date. The lump sum disability cover reduces proportionally in the 5 years prior to the Normal Retirement Date. Your separate lump sum death cover will continue until the earlier of your retirement from the Employer or age 70.

My options at retirement

Your retirement is an important milestone in your life. Most people hope to be able to maintain a reasonable lifestyle in their golden years.

At retirement from the UCTRF you will receive your Accumulated Retirement Savings. As this money will have to last you for the rest of your life, it is important that you don’t take decisions at retirement lightly.  It is recommended that you speak to a FAIS-accredited financial advisor of your choice to assist you with this important step. For further information regarding appointing a financial advisor and preferential rates offered to UCTRF members click here.

See also the different calculators in our Toolbox  to assist you with this important step.



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