Thinking about retiring?

• When can I retire? The earliest a LAPP member can retire is your 55th birthday and the latest is December 31st of the year you turn 71. There are several things you'll want to know and consider when planning when you should retire. Learn more at When to Retire.
• How much time should I give myself before I retire? It’s best to start the process early and give yourself 3 to 6 months before you plan to start your LAPP pension. Review the retirement checklist for all the important steps.
• What are my pension options? When you retire, there is no one-size-fits-all option. Review your pension options here.

Leaving your employer?

• I recently left my LAPP employer, what happens next?  Within 8 weeks of leaving your employer, we will mail your LAPP Termination Statement. Read more about your options for staying in the Plan or for leaving the Plan.
• Can I leave my money in the LAPP pension plan? Absolutely. If you leave your money in the Plan, you become what is called a deferred member. If, after deferring, you take another eligible position with a LAPP employer, you will add new pensionable service to what you have already earned and will increase the lifetime pension you will receive. You can also transfer your pension benefit to another pension plan. LAPP has transfer agreements with several other provincial and federal public sector pension plans. If you start working for a new employer who participates in one of those plans, you may be able to transfer your LAPP service to that new plan. Read more about the benefits of leaving your money in the plan.
• What if I choose to leave the plan? If you’re under age 55, you can transfer your pension as a lump-sum commuted value to a locked-in retirement account (LIRA). The commuted value is the present value of a future pension that would be paid for a person’s lifetime after retirement. If you transfer your commuted value out of LAPP, you are no longer entitled to a lifetime LAPP pension. Make sure to review the Terminations Checklist.
• I chose to leave the plan, when will I receive my commuted value payment? It will take 4 to 6 weeks to receive payment once all the required documents are received. This option is available if you are under age 55.

Returning from a leave?

• Can I buy back pensionable service time? Definitely. Your pensionable service is a key part in the formula used to calculate your future LAPP pension. The more service you have when you retire, the larger your pension will be. Here is information on buying back leaves.