Welcome to the new (and now only) Fora!
Started by GuyRien, September 14, 2023, 01:07:30 PM
Quote from: clean on September 18, 2023, 09:36:13 PMLong, long ago, we had a phased retirement here. You could work 1/2 time for 5 years. I dont think that they got full pay, though. They could work full time 1 term and not the other, or 1/2 time for 1/2 pay for the other 2. And at any time, they could decide not to continue/return. However, after the 5th year, there was no more. That has long been gone, though. (at least here). IF we still had it, I would absolutely do it! But the administration decided it was more of a problem than it was worth (to them). Until the retiree fully retired, the line was not empty so they could not hire a replacement, and they could not necessarily cover the class load, and as they could decide to be full time or half time the term they chose, planning was hard. (So they could work Full time in the first fall, no time in the first spring, then decide to be out Fall2, and work spring 2. Hard to write a schedule!! Anyway it is no longer an option for us.
Quote from: clean on September 18, 2023, 09:36:13 PMWe have quite a few profs that are are retirement age. Many have high salaries and are not overly active these days.
Quote from: GuyRien on September 19, 2023, 12:55:34 PMQuote from: clean on September 18, 2023, 09:36:13 PMWe have quite a few profs that are are retirement age. Many have high salaries and are not overly active these days.Curious if there is any pressure on them to retire. One option I've thought of is to just coast the last 3 years. So don't have the usual 3+ grants, but have 2. No Ph.D. students but do lots of research etc. But I worry there will be pressure to leave.
Quote from: Parasaurolophus on September 20, 2023, 10:55:53 AMThe pension numbers suggest I can consider retiring at around 77, though I'd do better if I held off until 80. Neither case looks great in terms of monthly dollars, however.I'm not worried about it, though. Either something will change on that front, or it won't. And if it doesn't, well, my partner and I have a decent chunk socked away in a patch of land we can sell. Maybe it'll even have a house on it by then. I don't like working but, to be honest, I don't work all that hard as it is.
Quote from: GuyRien on September 20, 2023, 06:08:15 PMGosh what pension is that. We get about 2% for each year of our 3 highest years. If you've been at your job for 25 years you get half your highest salary.
Quote from: Parasaurolophus on September 21, 2023, 01:00:44 PMQuote from: GuyRien on September 20, 2023, 06:08:15 PMGosh what pension is that. We get about 2% for each year of our 3 highest years. If you've been at your job for 25 years you get half your highest salary.It's a provincial plan. I pay in 10.24% of my salary every year. My employer pays in 10.34% of my salary. Then there's some formula to top it up a bit based on our highest earnings and the length of our contributions. So, not bad--except, of course, for the fact that we're not really salaried, so there may be dips in the numbers. And there are other bits and bobs like the Canada Pension Plan, of course, plus whatever RRSPs I scrape together. But it still works out to a monthly payment that's significantly less than rent now until I'm 80.