The VRP is a time-limited opportunity that provides eligible employees with a lump-sum payment of one month of salary per year of service up to a maximum of 12 months if they retire on or before Aug. 31, 2026. It is a deliberate step to align Memorial’s workforce with enrolment and financial realities while responding to interest from employees for such a program.   

Memorial is operating in a significantly changed environment, shaped by demographic decline, increasing competition for students, shifts in international enrolment and rising costs. These are structural challenges that require deliberate action to ensure the university remains vibrant and viable over the long term.

The VRP is a deliberate step to align Memorial’s workforce with enrolment and financial realities while responding to interest from employees for such a program. 

The VRP is open to all operationally funded eligible employees with the cost of this program being covered by salary savings. 

Eligible employees who avail of the VRP must retire on or before Aug. 31, 2026.  

Applications will be available in the Pensions section of the Human Resources channel in Employee Self-Service as of June 1, 2026. The application period will be from June 1 to July 10, 2026. 

All applications will be reviewed between July 13 and July 24, 2026, with communications to follow directly with applicants.

The VRP is being offered to operationally funded, permanent academic and non-academic staff members who meet the age and service requirements and who are enrolled in Memorial’s pension plan. 

This includes academic employees in tenured, tenure-track and/or academic administrator positions and staff employees in unionized, non-bargaining, management and professional and senior administrative management positions. 

Positions on the executive salary scale are excluded from this program. 

To qualify for the VRP, individuals must be a minimum age of 60 and have at least 30 years of service or be aged 71 or older regardless of years of service as of Aug. 31, 2026. 

The term “service” refers to pensionable service in the Memorial University Pension Plan. 

Individuals can check their annual personal pension statement in Employee Self-Service to get their years of service as of Dec. 31, 2025, and then add the number of months for this year that they will work prior to retiring. 

Please note that annual pension statements for 2025 are currently being updated and will be available prior to the application period. 

If you are an operationally funded, permanent academic or non-academic employee and you meet the age and service requirements, then you are eligible for this program. To avail of the program, you must apply during the application period.     

Employees must meet the age and service criteria by Aug. 31, 2026, to be eligible for the VRP. 

While individuals may be entitled to buy past service under the pension plan, this process generally takes 12-18 months to complete. Due to the limited time to elect to participate in the VRP, it is not possible to include past service in determining eligibility unless there is already a purchase or transfer in progress and the transaction is completed prior to Aug. 31, 2026. 

People who have already retired from Memorial are not eligible for this program. 

Should you meet the age and service qualifications, you must complete the VRP application and submit it via the HR Case Management channel in Employee Self-Service by July 10, 2026. 

The application will be available in the Human Resources channel of Employee Self-Service under the Pensions tab as of June 1, 2026. Once completed, please submit the application via the HR Case Management Channel and choose the “Pension” category, “Retirement Inquiry” subcategory”.  

No, this program is strictly voluntary. 

Your rate of pay for the lump sum payment is calculated by taking your annual salary and dividing it by 12. If you are a part-time employee, your part-time salary will be used for calculation. 

All earnings upon which pension contributions are paid are considered part of your salary for purposes of this program.

The step increase will be reflected in the final VRP payment calculation for any employee who receives a step increase prior to retirement. 

If you have further questions about the VRP, your eligibility, and the process involved, please submit a case via the HR Case Management channel in Employee Self-Service. When submitting a case, please select “Pension” as your category and “Retirement Inquiry” as your sub-category.

Pension Services can be contacted by email at pensions@mun.ca to answer any questions about your pension entitlement under the Memorial University Pension Plan. 

As your employer, the university is not able to answer questions or provide advice regarding your personal financial or tax planning. You are encouraged to seek professional advice, if necessary, based on your personal situation and financial goals. 

Additional FAQs covering subjects such as payment, taxes and RRSPs will be posted along with the application on June 1, 2026.