Starting Your Pension

pensions are effective the first of the month, and paid on the 26th
- deductions to your pension include taxes, insured benefit premiums, if you qualify; and if applicable spousal or child support payments, and additional Canada Revenue Agency deductions
all pensions are adjusted annually for inflation in January
at age 65 the Bridge Benefit for your OPTrust pension ends and your pension is integrated with CPP
working after retirement may affect your pension
if you are eligible for insured benefits, your spouse and dependents are also covered

review and update your beneficiaries as needed
review and keep your Retirement Confirmation Statement from OPTrust – it has important information about insured benefits, pension pay dates and general information about your pension
Sign up for Online Services – you can view your personal account, see your monthly pension statement, change your TD1, get your newsletter electronically and update your personal contact information, including your banking,
Activate your Canada Life online account – it saves mailing costs and speeds up reimbursement processing

contact information changes – address, e-mail, phone number, financial institution or account
marital status changes – married, common-law, separated, divorced, widowed
change to income tax deduction