Immediate annuity
At what age can I receive an unreduced pension benefit?
Watch the video below to find the answer to this question and to learn more about your monthly pension, and how you can use the pension calculator to calculate your immediate annuity.
Transcript of the Immediate annuity
If you became a member of the public service pension plan on or before December 31, 2012, you will be eligible to receive an immediate annuity when you retire from the federal public service if:
- you are at least age 60 and have at least two years of pensionable service;
- you are between age 55 and 60 and have at least 30 years of pensionable service;
- at any age, Health Canada confirms that you are permanently disabled and you have at least two years of pensionable service.
If you became a plan member on or after January 1, 2013, you will be eligible to receive an immediate annuity when you retire from the federal public service if:
- you are at least age 65 and have at least two years of pensionable service;
- you are between age 60 and 65, and have at least 30 years of pensionable service; or
- at any age, Health Canada confirms that you are permanently disabled and you have at least two years of pensionable service.
The Immediate annuity is a monthly pension payable immediately and is based on your years of pensionable service and your average salary for your five consecutive years of highest paid service. The more years of pensionable service to your credit and the higher your salary, the greater your pension will be.
Like all our pension benefits, the Immediate annuity is fully indexed to the cost of living.
Your participation in the Supplementary Death Benefit Plan (SDB) is automatically extended and coverage continues at the same premium rate as when you were employed if you have this coverage as an employee.
As well, when your pension becomes payable, if eligible, you may apply to join the Pensioners' Dental Services Plan and the Public Service Health Care Plan.
You can obtain an estimate of your pension benefits from the Pension calculator on Pension and benefits web portal or by contacting the Government of Canada Pension Centre. For more information on the pension benefits payable, we encourage you to consult the Pension Entitlement Information Package, also on the web portal.
Public Services and Procurement Canada
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