About 10,000 federal public servants apply for early retirement
Canadian early retirement incentive draws 10,000 applications as Ottawa trims Federal workers could retire penalty-free under the budget plan—see what’s next
About 10,000 federal public servants applied for the Canadian government's early retirement incentive before the July 24 deadline, according to the latest update from Ottawa.
The program was offered to 68,000 eligible employees who could retire without the usual permanent pension reduction tied to early retirement. The government said 6,855 of the 10,006 applications reviewed by July 28 met the criteria, while 41 were rejected.
The early retirement measure is part of Prime Minister Mark Carney's 2025 budget plan to reduce the federal workforce by 4.5 per cent, or 16,000 jobs, over three years. The budget estimated the program would cost $1.5 billion over five years and eventually save about $82 million a year, mostly through lower pension contributions. The final total of approved retirements is expected in early 2027.