If you opt for Option B, you are entitled to a lump-sum payment based on your years of service in the Public Service. This payment ranges from 4 to 52 weeks' salary. Employees with 16-29 years of service are entitled to the maximum amount.

In this scenario, you are considered laid-off for severance pay purposes and can work with management to determine a departure date. After your date of departure, you will receive the lump-sum payment, severance pay and a vacation pay out. See Article 22 of the LP Collective Agreement for severance details.

Under option B, the Pension Waiver applies if the person became a plan member before January 1, 2013, and is at least 55 years old with at least 10 years of service at the end of their employment (not in receipt of an GRJO and is laid-off); or the person became a plan member on or after January 1, 2013, and is at least 60 years old with at least 10 years of service at the end of their employment (not in receipt of an RJO and is laid-off).

If you opt for Option B, you relinquish any rights for reappointment.