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If you are in the process of buying back past service credit in the OPSEU Pension Plan, you must complete your payments prior to your divestment date. If you pay the balance in full, you will receive the full amount of credit you are purchasing. If you don’t complete your payments, you will receive credit only for the paid portion of your buyback. Completing a buyback will increase the value of your OPTrust pension when you retire.
Sometimes, divestments occur quickly and you may not have the opportunity to complete your buyback payments before your divestment date. In these cases, OPTrust will allow a short period of time for you to complete the purchase by making a lump sum payment. Payroll deductions are not possible after a divestment. For more information on buybacks see our booklet Your Pension and Buying Back Credit or contact OPTrust.
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