On Reaching Age 70

A member’s entitlement to Long-Term Benefits on reaching the age of 70 will change depending on whether the member is qualified or not to receive a pension. Entitlement to Short-Term Benefits will remain unchanged.

When the minimum period of insurance (qualifying period) necessary for receiving pension has been completed (refer to here)

The member is deemed retired one day before his or her 70th birthday, and will be removed from being an Type A-1 member and designated a Type B-2 (or a Type C-3 emploee) member.

When the qualifying period for receiving pension has not been completed

Members who can complete the qualifying period between their 70th birthday and the time they retire from their job at the member institution will continue to be entitled to Long-Term Benefits and will be designated a Type A-2 (or a Type C) member, if they submit a Statement of Intent for Participation in the Voluntarily Continued Plan after the Age of 70.

Payment of premiums

Even after losing entitlement to Long-Term Benefits, Type B-2 members will need to continue paying the premiums for Short-Term Benefits, which is borne in equal shares by the member and the member institution at which they are employed. (Since Type C-3 employee is not a member, he or she is not required to pay premiums.)

The premium in the case of a Type A-2 (or Type C-2) member paid in equal shares by the member and the member institution will remain unchanged.

  • Description of terms
    Date when the member is considered 70: Day before the member’s 70th birthday
    Date for deemed retirement at age 70: Two days before the member’s 70th birthday
    Date for losing eligibility as a result of reaching 70: Day before the member’s 70th birthday
(Example) Interrelationship between the 70th birthday and eligibility items
Birthday

Item
 May 30 June 1 June 2
Day on which the age of 70 is deemed attained May 30 May 31 June 1
Deemed retirement date (benefit entitlement date) May 29 May 30 May 31
Loss of entitlement May 30 May 31 June 1
Long-Term Benefits Membership period Until April Until April Until May
Last Long-Term Benefits premium due month Until April Until April Until May
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