Eligibility

Once you have met a retirement provision, you are eligible to receive either a reduced or an unreduced monthly pension benefit from the Plan, unless your benefit is considered a small benefit under The Pension Benefits Act of Manitoba.

Until December 31, 2019, you are eligible to retire when you:

  • New Retirement Provisions Effective January 1, 2020
  • Reach Rule of 80 (your age plus employment service totals 80); no reductions will apply
  • Are age 55; reductions may apply
  • Are age 60; no reductions will apply.

    New Retirement Provisions Effective January 1, 2020

If You Began Employment Before January 1, 2020

If you reach Rule of 80 before January 1, 2020 you are eligible to retire with an unreduced pension at any time after your Rule of 80 date.

If you did not reach Rule of 80 before January 1, 2020, you are eligible to retire when you:

  • Reach Rule of 80; an actuarial reduction will apply if you are under age 55 when you retire
  • Are age 55; reductions may apply
  • Are age 60; no reductions will apply. 

If You Began Employment After December 31, 2019

If you began employment after December 31, 2019, you are eligible to retire when you:

  • Are age 55; reductions may apply
  • Reach Rule of 80 and are at least age 55 (Rule of 80 + 55); no reductions will apply
  • Are age 60; no reductions will apply.

Early Retirement Reduction

An early retirement reduction will be applied to your pension if, when you retire:

  • You are under age 60 and 
  • You have not reached Rule of 80.

Actuarially Reduced Pension 

Effective January 1, 2020 

If you began employment before January 1, 2020 and did not meet Rule of 80 by December 31, 2019, you are still eligible to retire at any age when you reach Rule of 80 (actuarial reduction may apply):

  • If you retire with Rule of 80 before age 55, your pension will be actuarially reduced. 
  • If you retire with Rule of 80 at age 55 or older, your pension will be unreduced.

The closer you are to age 55 when you retire, the smaller the actuarial reduction will be. 

The actuarial reduction applies only if you begin employment before January 1, 2020 and:

  • Reach Rule of 80 on or after January 1, 2020 and 
  • Reach Rule of 80 before age 55, and
  • Retire before age 55
 


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See how your Pension Plan is changing to help ensure we can continue to honour the defined benefit commitment to all current and future retirees.

© 2017 HEB Manitoba

 

Disclaimer - This website provides a basic overview of the Healthcare Employees' Pension Plan (HEPP) and the Healthcare Employees' Benefits Plan (HEBP) (collectively the HEB Manitoba Pension and Benefit Plans). Not all employers participate in all Plans. Please check your eligibility for benefits with your employer.

HEB Manitoba is a name notation registered by the Healthcare Employees’ Pension Plan – Manitoba and the Healthcare Employees’ Benefits Plan – Manitoba and under which each of their respective undertakings is carried out.

The information on this website is for convenience of reference only and has no official sanction. View our full disclaimer here.