Pension Services
Memorial鈥檚 defined benefit (DB) pension plan is a central component of the University鈥檚 benefits package and provides members of the plan with a retirement pension based on a formula that uses the average of an employee鈥檚 salary over their best five years, pensionable service and a 2 per cent accrual factor. The University鈥檚 DB plan is mandatory for full-time permanent employees and for contractual employees who have been appointed for a period of six months or greater and work at least 20 hours per week.
Voluntary Retirement Program
In June 2026, Memorial will offer a one-time Voluntary Retirement Program (VRP) for eligible employees. For information on the VRP, please click here or visit the Frequently Asked Questions page.