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What if the divestment provisions apply?
If the divestment provisions apply to you, then:
- On the date of your divestment, you will stop contributing to the
OPSEU Pension Plan.
- The credit you have earned in the OPSEU Pension Plan up to the date
of your divestment is preserved without further accrual. This credit
will remain with OPTrust in the form of a “special deferred pension” until
you leave your new employer or retire.
- OPTrust will recognize both your credit in the OPSEU Pension Plan
and the period of your employment with your new employer when determining
your eligibility for benefits under the provisions of the OPSEU Pension
Plan.
-
Your new employer’s pension plan will recognize your period
of membership in the OPSEU Pension Plan when determining your eligibility
for membership and your entitlement to benefits under the new pension
plan.
-
Your employment for pension purposes is not considered to have
terminated until you terminate your membership in the pension plan
of your new employer. At this point, you may be eligible for an immediate
or a deferred pension or one or more termination options under the
OPSEU Pension Plan.
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