York University is offering a voluntary separation agreement to full-time faculty at or above normal retirement age as part of its efforts to address financial pressures. YorkU explained that it has implemented a new set of voluntary separation agreements: those who retire by the start of July 2025 will reportedly receive a lump sump payment equal to their full annual salary, while those who choose to retire by July 2026 will receive 85% of their full annual salary. “While we recognize there are significant initial costs to these incentives, they will provide important savings over the longer term,” said YorkU VP Finance and Administration Narin Kishinchandani. “For example, if 20% of eligible faculty accept a VSA[, …] we estimate the university could save up to $8.3M starting in 2027-28.”
