Federal government approves 9,346 early retirements, sets 2025 workforce target

The federal government has approved 9,346 early retirement applications as part of its plan to cut 40,000 public service jobs. The Treasury Board reported a high approval rate of 99%, with only 69 denials. The goal is to adjust the workforce to population growth levels by 2025, using voluntary departures and early retirement options to reduce costs and improve efficiency. The federal government has approved 9,346 early retirement applications for its employees as of Sept. 1 and turned down just 69, according to the Treasury Board. The audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results. The federal government is in the process of cutting about 40,000 jobs from the public service. Most of the approximately 10,000 applicants for its early retirement plan will be approved. The federal government has approved 9,346 early retirement applications for its employees as of Sept. 1 and turned down just 69, according to the Treasury Board. As part of the 2025 budget, Prime Minister Mark Carney's government announced the workforce had grown at a faster rate than Canada's population, pledging to According to the government, its 330,000-area target reflects typical turnover rates, retirements and voluntary departures from the public service. One of the ways to reach it was to offer early retirement to about 68,000 public servants who were notified of their eligibility to retire based on age and years of service, without incurring a permanent reduction of pension payouts that's typical of early retirement.by the end of the application program in late July and just 69 applications have been denied. That means 591 were still unprocessed as of last week's update. The government has approved about 93 per cent of total applications and 99 per cent of applications they've processed. For those who applied for the early retirement program and were accepted, the latest possible retirement date is January 20, 2027. The federal government predicted in the budget the program will cost $1.5 billion over five years, with about half of that expense coming in 2026. It's expected to save taxpayers about $82 million annually, largely from pension contributions.