Reduced Service Pension
(TPP Coordinated with CPP)
A teacher may retire on a reduced pension as follows:
1. Fifty years of age with 30 or more years of service with two per cent (2%) for each year of service with pension reduced by five per cent (5%) for each year or part thereof, calculated to three decimal places, by which
- (i) the teacher's age is less than 55, or
- (ii) the teacher's pensionable service is less than 35; Whichever is lesser
2. Fifty-five years of age with 20 or more years of service with 2% for each year of service with pension reduced by:
- 4/10 of 1% for each of the first 24 months,
- 3/10 of 1% for the next 36 months,
in respect of the number of months that would elapse between the date of eligibility for the reduced pension and the first day on which the teacher could retire and receive a pension which would not be subject to any reduction.
Advice if leaving teaching: contact the Nova Scotia Pension Services Corporation (In Metro, 424-5070; toll-free, 1-800-774-5070) and ask: "What are my pension options"?