Early Retirement Incentive Plan (ERIP)

Last updated: September 21, 2023

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. 

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What’s the Early Retirement Incentive Plan (ERIP)?

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:

Benefits of retiring with ERIP

  • Your monthly pension payment may increase every year as a result of an annual inflation adjustment
  • Public Service Pension Plan does not deduct other disability income(s), such as Canadian Pension Plan (CPP) disability and WorkSafeBC payments
  • No requirement to submit regular medical reports to maintain LTD benefits

Eligibility for ERIP

To be eligible for ERIP you must meet the following criteria:

  • You are approved for LTD benefits in the 'Totally Disabled Any Occupation' coverage period
  • You’re age 55, or older (age 50 for correctional facilities employees)
  • Your LTD claim meets a financial formula based on actuarial data that results in savings to the LTD Plan
  • You’re a member of the Public Service Pension Plan
  • You’re a member of one of the following unions/associations, with applicable provisions in their collective agreements:
  • You belong to one of the following excluded employee groups of the BC Public Service:

    • Management covered under the Management Classification and Compensation Framework (MCCF) rules
    • Schedule A
    • ​​OIC Category B

If you’re eligible for the program, you'll receive an invitation to apply before June 1.

Is ERIP right for you?

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:

  • A pension
  • The ERIP lump sum payment
  • Other disability income (such as WorkSafeBC pension or CPP)

Sample scenario

Linda is 60 years old, and has been on LTD for 8 years.

  • Her monthly LTD benefit payment is $2,000 per month after all the deductions
  • She also receives CPP disability benefit of $800 per month which is deducted from her LTD
  • Her total monthly income is $2,800

If Linda retires early:

  • Her monthly pension payment will be $2,500
  • She will continue to receive her CPP disability payment of $800 per month
  • Her total monthly income will be $3,300, combined
  • Plus, she will receive an ERIP payment of $20,000 ($14,000 after tax)

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).

The application process

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 3 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

Submit your application between June 1 to August 31. 

BC Public Service Agency
Workplace Health and Safety
Victoria, BC V8W 9V1

Or email your application to: CorporateHealthPrograms@gov.bc.ca



Monday to Friday, 8:30 am to 4 pm PST
Phone: 1-250-952-6000
Toll free: 1- 877-277-0772

BC Public Service Pension Plan

Phone: 1-800-665-3554
E-mail: PSPP@pensionsbc.ca

Employee and Family Assistance Services

These free services for B.C. government employees offer confidential advice and resources related to retirement and financial planning.
Phone: 1-800-655-5004