Employers must report member pension data to OPTrust . The operating default is a bi-weekly update however, employers can discuss alternate arrangements with the Data Management Group directly. At a minimum, the data that must be reported includes each member’s pension contributions. Other member pension data (salary and employment updates) may be reported either as they change or on a predetermined timeline (i.e. every quarter), by arrangement with the Data Management Group.
OPTrust's current pension administration system is capable of automating a number of transactions including:
- basic client information (name, date of birth, marital status)
- address information ( at onset, clients maintain their own updates going forward)
- work details (start and end dates, standard hours, ratio of full time equivalency)
- leave of absence details (type, start and end dates, date of disability, if applicable)
- salary information (base, rate, start and end dates)
- contribution details (regular, buyback, pensionable hours)
- termination information (effective date)
For information on the file format and transmission requirements contact the Data Management Group directly.