Depending on your circumstances, you may become eligible for one or more retirement options under the OPSEU Pension Plan. To receive a pension from OPTrust:
Age 65
The normal retirement age under the OPSEU Pension Plan is 65. If you are vested, you have the right to receive an unreduced pension from OPTrust at age 65, based on your credit and average annual salary with the Plan.
Early retirement with an unreduced pension
Depending on your age, your credit in the OPSEU Pension Plan and your length of employment with your new employer following a divestment, you may also qualify for one of the following early retirement options:
Factor 80 – your age plus your credit in the OPSEU Pension Plan, plus your period of employment with your new employer total exactly 80 years by March 31, 2005.*
Surplus Factor 80 – you receive a layoff notice before January 1, 2005, and your age plus your years of credit total 80 years or more before January 1, 2005 and on your last day of employment.
Factor 90 – your age plus your credit in the OPSEU Pension Plan, plus your period of employment with your new employer total at least 90 years.
60/20 – you are at least 60 years old and your credit in the OPSEU Pension Plan, plus your period of employment with your new employer total at least 20 years.
