Plan Sponsors Announce New Post-Retirement Insured Benefits Programs
On November 16, 2016 the Government of Ontario and OPSEU announced a Memorandum of Settlement (MOS) regarding post-retirement benefits for members of the OPSEU Pension Plan. These benefits are provided by the Government of Ontario through its carrier Great-West Life. The following details about these changes are based on the most recent information provided by the Government of Ontario (the province). Read more >
As a member of the OPSEU Pension Plan, there are a number of life events that will affect your pension.
New to the plan
Permanent staff must join the pension plan. For contract and unclassified staff plan membership is optional.
Buying Back Pension Service
New pension plan members can buy back past uncredited pension service and may be eligible to transfer in pension service from another plan.
Leaves of Absence
Members who are planning a leave of absence or who have recently returned from a leave have the option to buy back pension credit.
Changing your Marital Status
Marital status affects survivor benefits. If your marital status changes, notify OPTrust to ensure your information is up to date.
Ontario’s pension law protects the pension benefits you have earned with the OPSEU Pension Plan, when your branch or unit is divested.
Leaving Your Job
If you leave your job before retirement, your membership in the pension plan ends. You have options regarding your pension.
Planning for Retirement
Retirement is a major life change. Preparation and planning will help with a smooth transition to this next phase of your life.