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The VRP includes a lump sum incentive payment, the value of which will be equal to one (1) month's salary for each completed year of continuing service to a maximum of twelve (12) months’ salary. Participants will also receive their full year's 2026 vacation entitlement, less any portion used, as a lump sum with their final pay. Both payments will be subject to legally required deductions such as income tax. 

The University will calculate the value of the incentive payment using exclusively the employee’s base salary in effect as of November 28, 2025, the date on which participation in the program becomes irrevocable. The University’s calculation of the employee’s incentive payment will not take into account the salary earned by the employee during previous completed years of continuing employment during which an employee who is currently working on a full-time basis worked part-time or during which an employee who is currently working on a part-time basis worked full-time. 

The total of the employee’s completed years of continuing service is not altered by whether those years were worked on a full-time or part-time basis or a combination of the two.

An eligible employee’s contact with People Strategies in connection with the VRP will be treated as highly confidential but always subject to the University’s necessary operational requirements. On December 2, 2025 People Strategies will provide leaders with the names of any employees on the leader’s team who have chosen to participate in the VRP. 

Participation in the VRP is an option, not a requirement. An employee may choose to proceed with the standard retirement process.

Participation in the VRP is an option, not a requirement. An employee may choose to proceed with the standard retirement process.

If a department believes the role is critical, the department should speak to the department’s HR Strategic Business Partner to explore options to support the transition and impact to the workforce.

Eligible employees will receive an email on October 22, 2025 with VRP and financial information that will help them make the choice that is right for them.

The VRP is being offered to employees who are both:

1. members of either CUPE, APSA or APEX, and,

2. eligible to receive an unreduced pension as of February 28, 2026. 

To prioritize the academic mission, faculty positions are not included in this program. PolyParty employees are also not eligible for this program.

Whether to participate in the VRP is entirely a matter for each eligible employee to decide. The University strongly encourages eligible employees to seek guidance from their union or association, independent legal counsel or financial assistance from a qualified financial consultant to help inform their decision. 

Yes, if you meet the eligibility criteria of the VRP you will be eligible regardless of being on LTD. Retiring from SFU under the VRP will result in the cessation of LTD benefits on February 27, 2026.

The VRP is only available for those employees who are both:

1. members of either CUPE, APSA or APEX, and,
2. eligible to receive an unreduced pension as of February 28, 2026.

 Please contact retirement_support@sfu.ca if you have any questions about eligibility. 

Eligible employees who want to participate in the VRP must submit a Notice of Intent to Retire to People Strategies before 4:00 p.m. on November 28, 2025. An eligible employee who has submitted a Notice of Intent to Retire and wants to withdraw it must do so by 4:00 p.m. on November 28, 2025. Withdrawals will not be accepted after this date and time. A Notice of Intent to Retire which has not been withdrawn by 4:00 p.m. on November 28, 2025 will constitute an irrevocable decision to retire.

An eligible employee who has submitted but later wishes to withdraw a Notice of Intent to Retire from the VRP must do so in writing by 4:00 p.m. on Friday November 28, 2025.

While we appreciate the willingness to support ongoing work, all retirement dates will be February 28, 2026 with the last date being worked as February 27, 2026.

The incentive payment made under the VRP will be subject to a deduction for income tax. 

Individual circumstances will result in different tax consequences. Advice about individual circumstances should be sought from an appropriately qualified tax advisor.

An employee who meets the eligibility criteria and who submits and does not withdraw a Notice of Intent to Retire by 4:00 p.m. on November 28, 2025 will confirm both the employee’s irrevocable intention to retire on February 28, 2026 and guarantee the employee’s entitlement to receive the retirement incentive payment.

An otherwise eligible employee who declared an intent to retire on or following September 1, 2025 will be eligible for the VRP and will be contacted directly by email about the employee’s options. Please contact retirement_support@sfu.ca if you have further questions.

An employee who is entitled to an unreduced pension, gains no financial advantage by delaying the start of the employee’s monthly pension payment. The amount of the monthly payment will remain the same regardless of when it begins. 
 
Each eligible employee who submits (and does not withdraw) a Notice of Intent to Retire by 4:00 p.m. on November 28, 2025 will receive a detailed pension package no later than January 31, 2026. 

During the stated period, an employee will be entitled to request vacation using standard operational processes and subject to approval. However, an employee’s last day of work – February 27, 2026 – must not be a day of vacation.

Currently, retirees maintain access to a personal SFU email address and account for an indefinite period. Access to a role-based email address and account ends when an employee retires.

Retirees will retain access to myinfo in order to access their T4s. If you are not on campus, you will first need to sign into VPN. . 

An employee who is eligible for and chooses to participate in the VRP will have access to those retirement benefits and entitlements which are available under an applicable collective agreement or University policy as of February 28, 2026. 

Prospective retirees will be asked to confirm their extended health and dental benefit decision no later than 60 days following their retirement date.

Yes. You will receive your existing vacation balance, as well as the full year's 2026 vacation entitlement, less any portion used, as a lump sum with your final pay.

Existing vacation time and payouts are available on myinfo.sfu.ca. Please review your details .

Participation in the VRP will not change a retired employee’s rights, benefits and obligations under an applicable collective agreement, University policy or the Pension Plan.  Retiree health and dental benefits can be found here.

This pension projection tool provides a real time estimate of an employee’s pension payment amounts and options at retirement. Upon confirmation of an eligible employee’s retirement, a detailed pension package will be provided no later than January 31, 2026.  

People Strategies will be hosting online confidential information sessions for prospective retirees. The attendee list will be hidden and questions may be asked anonymously. The information shared in the sessions will be the same so there will be no need to attend both times.

There are different options to choose from. A monthly pension would start collecting as of March 2026.

Professional Development programs are available to continuing SFU employees. A continuing employee is defined as “an employee with an appointment with no end date." Therefore, an employee who gives their Notice of Intent to Retire in connection with the VPR ceases to be eligible for professional development funds. 

If you are an eligible employee, please contact retirement_support@sfu.ca for questions about the VRP. For general questions about pension, please visit the Retiring from SFU webpage. 

As retirement is a life-changing event, the decision to participate is entirely voluntary and up to the employee. You may wish to discuss your decision with your manager but this is a personal choice.

VRP and financial information will be sent directly to eligible employees on October 22, 2025. 

If you submit a Notice of Intent to Retire, you will receive a reply by email from People Strategies within 3-5 business days. The reply from People Strategies will confirm your decision to retire. 

People Strategies will be hosting online confidential information sessions for leaders whose team includes an employee who is eligible for the VRP. A leader to whom a prospective retiree reports will receive a direct invitation to attend one of these confidential sessions. Hosted by People Strategies, the session will answer leaders’ questions about how to support a team when navigating the changes ahead. The attendee list will be hidden and questions will be asked anonymously. The information shared in the sessions will be the same so there is no need to attend more than one.  

We expect the University’s budgetary pressures to continue for the next several years. The VRP is a strategic measure to address these budgetary pressures. 

Vacancies due to retirements will be unit-specific and Strategic Business Partners will work with leaders to explore options for addressing the impacts of vacancies.

Accepting this incentive does not preclude you from applying to a new role at SFU however, you will not be able to re-join the pension plan again.

SFU has a SFU Retirement Association please see their website here: /retirees.html