At OPTrust, pensions are paid on a monthly basis, usually on the 26th except for December when we pay pensions earlier. For your convenience, we offer direct deposit to the financial institution of your choice anywhere in Canada and the United States. Pensions are paid on the 26th of the month following your retirement, i.e. if you retire on May 15th, your first pension payment would arrive on June 26th. Normally, we only deduct income tax based on your OPTrust pension income unless you tell us you want other deductions. If you want additional tax deducted, just complete a Personal Information Change Request form and send it to OPTrust.
New retirees receive their first pension payment in the month following their retirement. So, if you retire on January 31st, you can expect your first payment as an OPTrust pensioner on February 25th. If you retire on June 10th, your first payment is on July 26th.