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Fact Sheets

Fact Sheets contain in-depth information on select topics.

Buybacks

Buying Back Pension Service


Are you a new OPTrust member? Have you taken an unpaid leave of absence recently? If so, applying to buy back pension service in the Plan could be one of the best financial decisions you can make.

Leaves of Absence and Your Pension


Taking an unpaid leave of absence (LOA) can affect your pension. That’s why the OPSEU Pension Plan gives you two options to help you maximize your OPTrust pension: contributing to the Plan during your leave, or buying pension service once you return to work.

Open Option Buyback


Effective February 1, 2010, you can apply to buy back credit for eligible past service, even after the 24-month application deadline. Under the new option, you can also apply for a previous buyback that you did not complete within the 10-year, three month payment window.

Disability

Applying for an OPTrust Disability Benefit


This Fact Sheet contains valuable information about OPTrust's disability benefits and the application process for OPSEU Pension Plan members, and answers some important questions.

Contributing to Your Pension While on a WSIB Leave


OPTrust members who are off work due to a workplace injury or illness, and receive benefits from the Workplace Safety and Insurance Board (WSIB) are eligible to continue contributing to the OPSEU Pension Plan, and also receive pension credit for the period of their leave.

LTIP and Your Pension Contributions


OPTrust members, who are required to take time off from work due to a severe illness and go on Long Term Income Protection (LTIP), will continue to earn credits towards their pension while away from work.

Divestment

HST divestment and your pension options


This fact sheet is designed to outline your pension options with the divestment of your position from the Government of Ontario to the Government of Canada.

Leaving the Plan

Bridging to an unreduced pension


Pension bridging requires a special provision in your collective agreement. In the Ontario Public Service (OPS), a bridging option is currently available to OPTrust members who are declared surplus and are covered by the Central Collective Agreement between OPSEU and Management Board of Cabinet. Bridging is also available to eligible employees in the OPS who are affected by a divestment.

Deferred Pension or Commuted Value Transfer


OPTrust members who leave their jobs before retirement often have an important decision to make. Once they receive their Termination Statement from OPTrust, many members will have to choose between one of two options.

Grow-in Rights and Your Pension


This fact sheet is for terminating members and divested former members of the OPSEU Pension Plan who are ending their membership in the Plan. Effective July 1, 2012, the Pension Benefits Act (PBA) provides for an enhanced benefit, “grow-in rights,” for members and divested former members of some pension plans.

Leaving your employment - checklist for process and paperwork


Leaving your job can mean big changes – and important decisions – about your career and your financial future. For members of the OPSEU Pension Plan, one major decision you may have to make is what to do with your OPSEU Pension Trust (OPTrust) pension.

Pension options when your employment ends


When you leave your job with an employer that participates in the OPSEU Pension Plan, you may have one or more options regarding your pension. Depending on your age and years of credit in the Plan you may be eligible for a number of options.

Marital status

How to prove your spousal relationship


To determine your spouse’s eligibility to receive survivor benefits, OPTrust needs the following documentation as confirmation of your spousal relationship.

Spousal relationship breakdown: Your pension and dividing your family assets


Effective January 1, 2012, there is a change to the method for dividing a pension asset for family law purposes when a spousal relationship ends in Ontario. This change applies to anyone who is involved in a spousal relationship breakdown (same or opposite sex) in a common-law relationship or legal marriage with a court order, domestic contract or family arbitration award dated on or after January 1, 2012.

Updating your marital status information


In the OPSEU Pension Plan your surviving spouse is eligible for a 60% survivor pension if he or she was your eligible spouse when you started receiving your pension.

New Members

Quick Facts about Your Pension


Welcome to the OPSEU Pension Plan. You are now part of a defined benefit pension plan which means you will receive a retirement pension based on a formula that takes into account your salary and years of pension service. This fact sheet provides you with information on how your pension can influence your financial landscape.

Planning for retirement

Bridging to an unreduced pension


Pension bridging requires a special provision in your collective agreement. In the Ontario Public Service (OPS), a bridging option is currently available to OPTrust members who are declared surplus and are covered by the Central Collective Agreement between OPSEU and Management Board of Cabinet. Bridging is also available to eligible employees in the OPS who are affected by a divestment.

Your retirement planning checklist


Use this checklist to help you get started with your retirement plans. Most financial advisors estimate that you will need 60% to 80% of your pre-retirement income to maintain your current lifestyle after retirement.

Retirees

Appointing an attorney for your OPTrust pension


When you appoint an attorney, you are granting someone the power to handle your financial matters including your OPTrust pension. OPTrust needs an original or notarized copy of your power of attorney for property to take direction from the person you appoint as your attorney.

Inflation protection for your pension


Every January, OPTrust pensions are adjusted for the increase in the cost of living, as measured by the Consumer Price Index (CPI), reported by Statistics Canada. The result is protection for the buying power of your pension - and security for the future.

Questions & answers for new OPTrust retirees


As a new OPTrust retiree, you may have questions about your pension and insured benefits coverage. For your information, we’ve provided answers to some frequently asked questions we often receive from new retirees.

Turning Age 65 and Your Pension


When a pensioner reaches age 65, their temporary OPTrust benefit ends because they are now eligible to collect a CPP retirement pension.

Survivor benefits

How to prove your spousal relationship


To determine your spouse’s eligibility to receive survivor benefits, OPTrust needs the following documentation as confirmation of your spousal relationship.

Survivor benefits and minor children


The OPSEU Pension Plan provides survivor benefits for your eligible survivors. In some cases your eligible survivors may be minor children.

Your pension beneficiaries


Your OPTrust pension provides benefits for your survivors. If you identify who you want to receive those benefits, OPTrust can administer payment of your survivor's benefits according to your wishes.

Transfers

OPTrust/OPB Transfers - Your Pension and Your Career in Ontario's Public Service


If you are moving to a bargaining unit position, management position or an excluded position, there are several factors to consider concerning your pension and your career in the Ontario Public Service (OPS).

Transferring your pension to OPTrust


OPTrust participates in transfer agreements with a number of public sector pension plans. Under a transfer agreement, new OPTrust members who have pension credit in another registered pension plan may be able to transfer their pension credit to OPTrust.

Transferring your OPTrust pension to another pension plan


OPTrust participates in transfer agreements with a number of public sector pension plans. Under a transfer agreement, OPTrust members who end their plan membership in the OPSEU Pension Plan may be able to transfer their pension credit to another employer's pension plan.