The Early Retirement Incentive Plan (ERIP) is an exclusive opportunity for eligible B.C. government employees on Long Term Disability (LTD) to retire early.
Participation in the ERIP program is by invitation only, based on meeting eligibility criteria.
ERIP is an incentive for eligible employees who receive Long Term Disability (LTD) benefits to voluntarily retire early.
Employees must meet a list of eligibility criteria to receive a lump sum payment equal to 6 months of their base salary at the last day of the Short Term Illness or Injury Plan (STIIP) period.
ERIP provisions have been negotiated with:
To be eligible for ERIP you must meet the following criteria:
You belong to one of the following excluded employee groups of the BC Public Service:
If you’re eligible for the program, you'll receive an invitation to apply before June 1.
You need to consider your personal circumstances, financial needs, changes to your extended health and dental coverage, and whether early retirement is a goal you’d like to pursue.
It's recommended that you seek both independent financial advice and union advice to assist in making a decision.
ERIP might be an option if you compare what you currently receive as LTD benefits against the combination of:
Linda is 60 years old, and has been on LTD for eight years.
If Linda retires early:
This employee will be in a better financial position each month if she retires early with ERIP, because adding the monthly CPP to the monthly pension results in a greater combined monthly income than staying on LTD ($2,800 vs. $3,300).
Eligibility for the program is determined by the BC Public Service Agency, once a year. If you’re eligible for the program, you’ll receive an invitation to participate by June 1.
The ERIP invitation will include an offer letter, information package and application form.
Submit your application between June 1 to August 31 each year.
A program manager from Corporate Health Programs will contact you within three weeks of receiving your submission and to confirm your enrolment in the ERIP program and provide you with next steps.
Your retirement date will be October 1.
Submit your application between June 1 to August 31.
BC Public Service Agency
Workplace Health and Safety
PO BOX 9404 STN PROV GOVT
Victoria, BC V8W 9V1
Or email your application to: CorporateHealthPrograms@gov.bc.ca
AskMyHR: Monday to Friday, 8:30 am to 4 pm PST
BC Public Service Pension Plan: Monday to Friday, 8:30 am to 4:30 pm PST
Employee and Family Assistance Services (EFAS)
These free services for B.C. government employees offer confidential advice and resources related to retirement and financial planning.