Steps towards retirement


- List your possible sources of income:

    • Desjardins Group Pension Plan (DGPP) pension and other types of retirement savings, if applicable
    • Canada Pension Plan retirement pension
    • Old Age Security pension
    • Personal savings (registered retirement savings plan, tax-free savings accounts and others)
    • Others

- Evaluate possible retirement dates.

- Estimate your DGPP income using the retirement simulator in your secure file and assess the different options. If necessary, contact the DGPP Member Services Team who will assist you and provide you with all explanations you need.

- Verify your eligibility to the Group Insurance for retirees and, up to one month before your retirement, request an estimate of the premiums that you are going to have to pay during your retirement by contacting Desjardins Insurance at 1-877-465-7935 or by email at If you are eligible and would like more information, consult the Summary of Benefits Concerning Retirees and the page Group Insurance Plan at retirement.

- Meet with an advisor at your financial institution to set up a retirement plan.

- Consult with your employer's Human Resources department for information about leftover vacation time, overtime, etc. Please take note that if you take vacations prior to your departure, your retirement will start afterwards.

The decision

- As soon as possible, tell your manager the date you have chosen. If applicable, enter the information in the HR multifunction system.

- Up to 3 months before your retirement date, send your official retirement request to the DGPP from your secure file. Fill in the required information: your last day of work, your spouse's information if applicable and your contact information.

    • Warning: To avoid delays in your pension payment, it is important that the date entered in the retirement request and the one in the pay system are matching. For instance, you take a vacation before retiring, the employment end date is at the end of your vacation.

- Approximately 1 month before retirement, fill in the "Notice of Retirement" form for the Group Insurance Plan and send it to Desjardins Insurance. Thereafter, you will receive a confirmation of your group insurance coverage.

Taking action

Receipt of the retirement documents

If you make your request for retirement approximately 3 months before your termination of employment, your DGPP retirement documents will be available online in your secure file approximately 1 month before retirement. On request, a printed copy can be mailed to you.

- Print and fill out the following documents by indicating, among other things, the type of pension you choose and keep a copy for your file. Please note that your documents must be received by Desjardins Financial Security within 90 days following the reception of the statement.

    • Election of Options
    • Direct Deposit Information (personalized voided cheque)
    • Proof of Age for you and your spouse (copy of an official identification document)
    • Declaration of Marital Status
    • Spouse Waiver of Joint and Survivor Pension (only if you have a spouse at the time of your retirement and you wish to elect a pension form where this document is required)
    • Beneficiary(ies) Designation
    • Declaration Regarding Temporary Annuity (only if you select a form a pension with a temporary annuity)

Start of payments

The pension payments will be made retroactively to your retirement date at the earliest 1 month after your retirement. More precisely, you will get the first payment within 15 business days of:

    • receipt of your duly completed documents,
    • obtainment of the final data from the payroll department confirming your retirement date, and
    • validation of the contributions paid out for your participation.

Your pension will be paid monthly on the date that you retired (except for the 29 up to the 31, for those dates the payment will be made on the 28 of each month). If the payment falls on a Saturday, Sunday or a statutory holiday, it will be made on the previous Friday or on the previous business day.

- If you would like to change the amount of tax withheld, you can make a request in your secure file or call the Member Services Team.

You will receive, in December of each year, a letter notifying you of the percentage of pension indexation for the following year, if any, and the new amounts that will be payable before and after applicable taxes.