The OPSEU Pension Plan is a defined benefit plan. This means that you will receive a retirement pension based on a formula that takes into account your salary and credited service.

The OPSEU Pension Plan is governed by 10 trustees, five appointed by the Government of Ontario and five appointed by OPSEU. The Board of Trustees is responsible for the investment of the Plan’s funds and administration of the Plan.

THE BASIC FEATURES OF YOUR PENSION BENEFIT

The basic pension you accrue in the OPSEU Pension Plan:

• is based on your average annual salary and years of credited service in the Plan
• is paid for your lifetime
• is adjusted for inflation on an annual basis
• may be paid early without penalty if you qualify for any of the Plan’s unreduced early retirement options
• contains a survivor pension component for your eligible spouse and/or children

OPTRUST PENSION FORMULA

At retirement, OPTrust members receive a lifetime pension, based on the following pension formula: