Life events, Leaves, Retirement, Terminations

Benefits

Throughout our lives we may experience many important events. The following is a summary of the impact these life transitions could have on your benefit coverage.

Life Events

Benefits can support you and your family: from supporting children to changes in marital status.

Adding/removing dependents from health and dental care benefits?

Changing life insurance beneficiary?

Changing pension plan beneficiary?

Death before retirement

  • Your benefits coverage will cease at the end of the month in which death occurs.
  • Your beneficiary or estate will receive payments from various insurance plans that you are enrolled in.
  • Your beneficiary or estate will receive the process of your pension plan accounts (if applicable).
  • Canada Pension Plan pays a lump sum benefit and in certain circumstances a monthly income to your spouse, dependent children or orphans.
  • If your death is the result of an "on-the-job" accident, Worksafe BC pays a lump sum benefit plus a monthly income to your spouse, dependent children or orphans.

Leaves

Consult your collective agreement, framework agreement or policy of your eligibility.

Sick leave or disability

  • To protect you against loss of income as a result of absence from work due to illness or injury, UVic provides a sick leave and long term disability program, as well as WorksafeBC (WCB) benefits.
  • Learn more about sick leave and return to work.

Leave without pay

  • During a period of approved leave without pay (other than maternity/parental leave), you may continue any or all of your UVic benefits by assuming their total cost, including the UVic contributions.
  • Contributions may be paid in advance or on the normal monthly basis.
  • If you plan to be out of the province for more than six months during your leave, please contact the Benefits Office for important information regarding your Medical Services Plan coverage.

Maternity/parental leave

  • If receiving UVic supplementary top-up benefits, you're required to pay your share of the cost of the benefits you're enrolled in during the full term of the leave.
  • While on unpaid parental leave, you may continue any or all of the benefits you're enrolled in. UVic will continue to pay its share of the cost of benefits you chose to continue.
  • Refer to your maternity/parental leave brochure.

Professional development leave

Retirement

On January 1, 2008 the provincial government eliminated mandatory retirement. This means that you are no longer required to retire from the university at age 65 (normal retirement date).

Early retirement

  • UVic group benefits coverage ceases at the end of the month in which you retire.

Normal retirement

  • UVic group benefits coverage ceases at the end of the month in which you retire.

Deferred retirement

  • UVic group coverage for MSP, extended health, dental, pension plan, optional group life insurance and sick leave continue.
  • Basic group life insurance reduces to 1.0x earnings.
  • Long term disability eligibility and coverage ceases.
  • All benefit coverage will cease at the end of the year you turn age 71 and by law must draw a pension.

If you want to retire?

Planning ahead

Termination

When ending employment with the University before age 55, your departure will be considered a termination of employment for pension and benefit purposes. All benefits will cease at the end of the month in which you terminate employment.