Phased retirement

Changes to come

As of 1 January 2024, changes made to the Québec Pension Plan (QPP) will be in effect.

Combining work and retirement can be to your advantage. Discuss it with your employer. With the impending labour shortage, your employer could offer you incentives to encourage you to prolong your career. Such an agreement could encompass your pay, your work hours or phased retirement.

The benefits of phased retirement

Here are some of the reasons why workers choose phased retirement:

make a smooth transition between work and retirement
combine employment earnings with a retirement income
continue to work while making use of their expertise.

The benefits vary depending on your agreement and situation. Check with a financial planner to gauge their impact on your income and pension plan.

Phased retirement made-to-measure

Your employer can offer you one of the phased retirement measures under the:

Québec Pension Plan
- For workers age 60 to 65: early retirement
- For retirees age 60 and over who work: the retirement pension supplement
- For workers age 55 to 69: agreement on contributions during phased retirement

your pension plan (also called a "pension fund"), whether it is a:

Did you know that...
If you stop working at age 60, your retirement will last an average of 25 years.

Other useful information

Is phased retirement right for you?: Flash Retirement capsule