Retirement Process

The UCC Retirement Process

1 Financial Planning

• Pension Master On-line System

UCC staff can log onto the on-line Pension Master System at any time for a statement of retirement benefit at normal retirement age (65), based on current salary. This statement provides figures on all aspects of a pension i.e. death in service, death in retirement and normal retirement benefits.  Following a review of the documentation, if you require further information or a breakdown of personal aspects of a pension please contact the UCC Pension’s Team at pensions@ucc.ie. One to one confidential meetings can be accommodated.

• Mid-Career Financial Planning

Information on the Irish taxation system, pension/financial planning options and social welfare entitlements are covered in this one day course. These courses are normally offered once per academic year. Contact Staff Wellbeing & Development Team via e-mail at traininganddevelopment@ucc.ie for further details.

2 Retirement Planning

UCC organises a two-day course on retirement planning for staff considering retirement and those about to retire in UCC. Topics covered include: Healthy Lifestyle Options, Superannuation, Investment Options, Taxation and Social Welfare Benefits. Contact Staff Wellbeing & Development Team via e-mail at traininganddevelopment@ucc.ie for further details.

3 Within 12 months of normal retirement age (65) / early retirement*

• Meet the UCC Pensions Team

The Pensions Team are available to staff to confirm all figures and information regarding retirement and pension arrangements.

• Communication from UCC

All staff will receive a letter 4/6 weeks prior to the planned retirement date advising of upcoming arrangements. Upon receipt of this letter, it is advisable to contact the Pensions Team to ensure that you are fully aware of all aspects of retirement details / pension package upon retirement.

• Head of Department

The Head of Department is provided with a token of appreciation (a clock) to present to the retiree at a function which is normally organised by the department in which the retiree is employed.

*Staff members intending to take early retirement must provide at least 3 months notice of their intention to do so and the months of July. August and September do not count for notice purposes. Retirement notification should be in writing (via email is sufficient) to the relevant Head of Department and the Pensions Team should be copied on the correspondence.

Retired Staff Members

• UCC pension schemes

Retired Staff members have continued access to the Pensions Team in UCC regarding any aspects of a pension.