Benefits When Retiring

The cleric applies for pension by completing Application for Retirement Pension Form and submitting it to the Diocesan Payroll Office. After the application is processed, the General Synod Pension Office will inform the cleric of the exact monthly amount of the pension and any options available. Pension amounts are paid at the end of each month.

At the time of retirement, the retiree has the option to make application to join the post-retirement Extended Health Benefit program. Please contact the Payroll Office of the Diocese for further information.  In 2005, all clergy received the information bulletins about the changes to the post-retirement benefit plans:

• For Future Retirees (those retiring on or after December 1, 2007).
• For Eligible to Retire (those who were 65 years of age or completed 35 years of service before December 1, 2007).

The Post-Retirement Benefits (for those that retired after December 1, 2007) now includes a Health Care Spending Account.  For information and frequently asked questions please read the Health Care Spending Account brochure. To submit a benefits claim to Manulife Financial, please use the medical claim form for prescriptions and the health care spending account claim form for submitting claims for dental or other eligible benefit costs.

In order to be eligible for post-retirement benefits, you must retire from active service with the Diocese of Toronto under the terms of the General Synod Pension Plan. Benefit plan premiums will be shared by a retiree and the Diocese at a percentage dependent on the retiree’s years of credited service. For more information on the criteria, please read the Post-Retirement Benefits Qualifications Criteria.

At time of retirement, providing you have had coverage under the Self Insured Death Benefit Plan or the Manulife life insurance plan for at least 5 years immediately preceding retirement, the $10,000 death benefit is reduced to $4,000 and a death benefit of $1,500 is provided on the death of an eligible spouse.  Information on the Self Insured Death Benefit Plan is available on the Pension Office website.

The benefit amount reduces by 50% or to $50,000, whichever is greater, at age 65 and terminates at the end of the year in which you attain age 71 or retire, whichever is earlier. If you have been granted an exemption from the General Synod Pension Plan, insurance shall terminate when you attain age 66.

If you retire and do not perform any further work for the Diocese, you can no longer access these funds.  Any applications for continuing education expenses must be submitted 3 months prior to retirement in order to be eligible for reimbursement.

If you retire and continue to perform some work, reimbursed through the Diocesan central payroll, you may be eligible to continue your participation in the Plan.  If this is the case, please contact the Pension Office to discuss eligibility for continued participation.  Information on the Continuing Education Plan is available on the Pension Office website.

This General Synod benefit ceases upon retirement or age 65, whichever is earlier.