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FAQS- Retirement

How do I retire my membership?

Fill out the Retired Declaration form and send it to Protected Email for processing.

Who is retired membership recommended to?

Retirement is recommended for those that completed Fee appraisal work, and require tail coverage for 7 years should a claim arise in the future. This also an option for those that still wish to affiliate themselves with our organization.

If I am retiring in September, do I need to pay any dues?

If a member is retiring in September of AIC’s Dues cycle, retired dues payment is required by the AIC-ON Office for the upcoming dues cycle. Contact Protected Email for the retired dues amount.

If I am retiring in December, do I need to pay any dues?

If a member is retiring in December, the AIC-ON office will process the retirement and notify the AIC office and Insurance. The retired member will then be required to pay retired dues at dues renewal time in September.

PLEASE NOTE:  Membership dues are non-refundable.

How much does “run off/tail coverage” cost when retiring?

Tail coverage is calculated by averaging the previous three years of insurance payments made by you.

Do I need to pay for “run off/tail coverage” for 7 years?

The tail insurance is a one time payment OR prorated over the first year of retirement.

Is “run off/tail coverage” mandatory to retire?

Retired Members are not obligated to purchase run-off coverage, however, it is recommended as a best risk management practice.

Retirement- 25 Year Rebate *applicable to those retiring Dec 31st only

AIC has established a policy for long term members; those with 25 or more consecutive years of membership are entitled to receive a pro-rata refund for both the Provincial and National dues amounting to 9/12ths of your dues. This is only applicable for those who are retiring Dec 31st. This is a one time only offer and cannot be exercised more than once by a member.

Should a retired member (availing themselves of this opportunity) choose to reinstate to active membership at a future date, they will be required to return the amount of the pro-rata refund to both the Provincial and National offices prior to reinstatement in addition to any reinstatement fees and charges that may be applicable at that time.

Is there anything I need to do ongoing while being a retired member?

To remain in good standing as a retired member, (and keep active tail coverage if you purchased it) you are required to pay the annual retired fees that are approximately $100/year.