Working While Receiving Your Pension

There is nothing to prevent you from working while also receiving a monthly pension. The amount of pension you receive won't change.

There is no minimum amount of time required between starting your pension and re-entering the workforce; however, you must have terminated your previous employment to begin drawing your pension.

It's important to remember that you can't receive a PSPP pension and contribute to PSPP or the Management Employees Pension Plan (MEPP) at the same time. If you start a new job with a PSPP or MEPP employer, you must let your employer know that you're a PSPP pensioner and can't contribute to either of those plans. Your prospective employer's Human Resources area can help if you have questions.

More on PSPP employers

Working at Age 71

You must start your PSPP pension no later than December 31 of the year in which you turn 71. In this situation, you don't have to stop working for your PSPP employer.

Before re-entering the workforce, you may want to consider the following:

  • You can't contribute to PSPP or MEPP to increase your pension if you are currently receiving a pension from either of those plans, even if you retired before age 65 and are receiving a reduced pension.
  • You can work for an employer with a pension plan other than PSPP or MEPP and, if eligible, contribute to that pension plan without impacting your PSPP pension.
  • There may be tax implications to working while receiving a pension. If you have income from multiple sources, such as a pension and current pay cheque, you may want to request that additional tax be taken off your monthly PSPP pension to avoid owing money at tax time. If you want to increase the amount of tax deducted from your pension, you can send in an updated TD1 form or  contact us.

More on Income Taxes