Gathering feedback
During 2010, we conducted a special survey of members and pensioners to gather feedback on our communications and services and their satisfaction with OPTrust, and to measure our success in delivering key information about their pension plan.
The result? OPTrust received high marks for delivering timely service and communications that meet our members’ and pensioners’ individual needs.
- Overall satisfaction with OPTrust’s communications program reached an all-time high of 8.1 out of 10 among active members, compared to 7.5 in 2002. Pensioners gave us an even higher rating of 8.6 out of 10.
- Our telephone and e-mail services also won high marks, with scores of 8.9 and 8.8 out of 10, respectively. What’s more, nine out of 10 members who contacted OPTrust by phone reported that their issue was resolved with one call.
- The survey also asked members about the phased 3% increase in member and employer contribution rates, which began in January 2010. The results showed 63% of members understood why the increase was needed to manage the Plan’s funding deficit, and 67% understood that the increase meant that there would be no reduction in the value of their future OPTrust pensions. Meanwhile, 86% agreed that the increase in contribution rates was preferable to a reduction in their future pension benefits.
In 2010, more than 1,000 members retired under one of the following options:
| Age 65: | The normal retirement age under the OPSEU Pension Plan |
| Factor 90: | Age plus years of credit total at least 90 |
| 60/20: | Age 60 or older plus at least 20 years of credit |
| Reduced: | Available starting at age 55 to vested members who do not qualify for an unreduced pension |
| Surplus Factor 80: | For eligible members who are laid off prior to January 1, 2013, and whose age plus years of credit total 80 or more |
Note: Chart does not include deferred, disability or survivor pensions.
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In 2010, more than 1,000 members retired under one of the following options:
| Age 65: | The normal retirement age under the OPSEU Pension Plan |
| Factor 90: | Age plus years of credit total at least 90 |
| 60/20: | Age 60 or older plus at least 20 years of credit |
| Reduced: | Available starting at age 55 to vested members who do not qualify for an unreduced pension |
| Surplus Factor 80: | For eligible members who are laid off prior to January 1, 2013, and whose age plus years of credit total 80 or more |
Note: Chart does not include deferred, disability or survivor pensions.