Retiring Before 65
Here are the basic criteria for eligibility for Early Retirement benefits:
- At least 50 and under 65 before the date of retirement
- Worked for a minimum of five consecutive years at an ASEBP-participating employer immediately preceding your last day of work
- Were enrolled in ASEBP benefits through your employer immediately preceding your retirement date
- Remain a resident of Canada
- Covered by a provincial health care insurance plan
- Retired from an employee group that continues their ASEBP benefits
- Your employer must submit your completed Early Retiree Benefits Coverage Application to us within 31 days of your retirement date
You can find a list of your current benefits under Coverage on My ASEBP or on your ASEBP ID card on the My ASEBP Mobile App. For specific details on your coverage, please refer to the applicable Benefits page.
Note that the following is a comprehensive summary of the official, legally binding ASEBP insurance policies and plan documents, which are available through your employer or by contacting us.
Your Early Retirement benefits are the same health benefits you held with your employer—you’re simply extending you and your dependants’ coverage into retirement.
If you retired prior to September 1, 2011 and enrolled in Early Retirement benefits Package 2, see Early Retirement Benefits Package 2 for details.
What's not covered?
Applying for Coverage
To learn how to apply for Early Retirement benefits, visit Retirement.
Paying your Premiums
Premiums are paid monthly by pre-authorized debit withdrawals on the 15th of every month.
Please note that it’s possible for your premiums to change yearly. Early Retirement benefits premiums are made up of each year’s base premium rates and then adjusted based on your former employer’s overall benefit usage, which means discounts or surcharges may be applied.
Going Back to Work
If you decide to return to work after you’ve already retired, here are a few things to keep in mind:
Returning to an employer who offers ASEBP benefits
If you are eligible for your employer’s ASEBP benefits, your Early Retirement benefits will be suspended until you leave this position or are no longer eligible for Early Retirement benefits. If you are planning to have your Early Retirement benefits reinstated, you will need to let us know within 31 days of your last working day by completing the Early Retiree Change Application. If you do not complete the form within this time, your Early Retirement benefits will be cancelled.
Returning to an employer who doesn’t offer ASEBP benefits
You can choose to continue receiving all or some of your benefit coverage. If you decide not to continue any part of your benefits, you will not be eligible to reapply for coverage once you stop working. Use the Early Retiree Change Application to reduce or cancel your coverage.
When you Turn 65
Our Early Retirement benefits provide coverage until 65—your benefits will automatically end on the last day of the month of your 65th birthday. Here are some things to consider when you’re approaching your 65th birthday:
- If you plan to continue working for an ASEBP-participating employer past 65 (with no break in employment), you can choose to continue some of your benefit coverage. See Managing Your Coverage for details.
- If you're entering into a new employment contract and are over 65, you may be eligible for the Supplemental Package. Learn more about these benefits on the Supplemental Package page.
- Before you turn 65, you'll have the option to convert your group life insurance into an individual policy with Canada Life. See Life Insurance for details.
- To ensure you still have the option to purchase coverage that meets your needs once your ASEBP coverage ends, we’ll also send you an information package from the Alberta Retired Teachers’ Association.
- The eligibility criteria for the Coverage for Seniors program is changed effective March 1, 2020. The new change states that family members younger than 65 years of age will no longer be covered by the Coverage for Seniors program. Albertans 65 years of age and older will continue to be covered by the program. For more information, visit this resource from the Government of Alberta.
Early Retirement Benefits Package 2
Only available if you retired prior to September 1, 2011
- Drug Plan 3
- 100% coverage for Other Medical Services & Supplies
- Travel Emergency benefits
- Dental Plan 4
- $25,000 in Life Insurance coverage
- $25,000 in Accidental Death & Dismemberment coverage
What’s Not Covered
For limitations that relate to a specific product or service, please visit the applicable Benefits page.
Making Changes to your Early Retirement Benefits
Once you’ve enrolled in Early Retirement benefits, there are only a few changes you can make to your general health benefits. All changes, regardless of the Early Retirement benefits you have, must be made by using the Early Retiree Change Application.
- Increase coverage level: you can only move from single to family coverage for your general health benefits if you get married, lose spousal/alternative coverage or gain a dependant. You have 31 days from one of these events to request an increase in coverage.
- Decrease coverage: you can move from family to single or covered under spouse/alternative coverage for any of your general health benefits at any time.
- Cancel coverage: you can cancel all of your Early Retirement benefits at any time.
Changes to Early Retirement Package 2
(Only available to people who retired prior to Sept. 1, 2011)
The changes listed above for standard Early Retirement benefits also apply to Package 2; however, there are additional limitations:
- Once enrolled in Package 2, you cannot switch packages.
- You cannot opt out of any of the plans in this package.
As your Early Retirement benefits are tied to the employee group you were enrolled in with your employer, any changes made to benefits offered to this group—whether benefits are added or removed—will also be made to your benefits. Should your former employer choose to no longer participate in our benefits, your coverage will end, though this does not apply to Package 2.
Note that we may make changes to Early Retirement benefits from time to time. Any changes we make could affect your benefit coverage, even if the changes happen after you retire.
Retirement Planning Resources
Thinking about retirement but want to make sure you have all your ducks in a row? Take advantage of your Employee and Family Assistance Program (EFAP) to make sure you’re retirement-ready. Your EFAP offers a wide range of free services to help you assess or begin your retirement planning, like articles (Retire Happy, Healthy and Secure and Pre-Retirement Planning), e-courses (Preparing for your Retirement) and even coaching services through the Life Smart program. Log in to Homeweb.ca and search “retirement” to get started. The EFAP is only available prior to retirement and is not included as part of ASEBP’s Early Retirement Benefits.