Joining the OPSEU Pension Plan
Transfers to and from the OPSEU Pension Plan
The OPSEU Pension Plan has transfer agreements with many of the Canadian public and broader public sector pension plans. If you are joining the OPSEU Pension Plan and wish to transfer pensionable service credit, please notify OPTrust immediately. There are deadlines for transferring your service and we can inform you of the terms and any costs that may be involved. Contact us for a current list. Here are the plans that OPTrust has transfer agreements with as of August 2012:
- Alberta Local Authorities Pension Plan (LAPP)
- Alberta Management Employees Pension Plan
- Alberta Public Service Pension Plan
- British Columbia College Pension Plan
- British Columbia Municipal Pension Plan
- British Columbia Public Service Pension Plan
- British Columbia Teachers' Pension Plan
- Colleges of Applied Arts & Technology Pension Plan (CAAT)
- Electrical Safety Authority Pension Plan
- Federal Government Public Service Pension Plan
- Healthcare of Ontario Pension Plan (HOOPP)
- Hydro One Pension Plan
- Independent Electricity Market Operators Pension Plan
- La Commision administrative des régimes de retraite et d'assurances (Carra)
- Manitoba Civil Service Superannuation Fund
- New Brunswick Public Service Superannuation Fund
- Newfoundland & Labrador Public Service Pension Plan
- Nova Scotia Public Service Superannuation Plan
- Ontario Municipal Employees Retirement System (OMERS)
- Ontario Power Generation Pension Plan
- Ontario Public Service Pension Plan (see transfers to Public Service
- Ontario Teachers’ Pension Plan (OTPP)
- OPSEU Staff Pension Plan
- Pathways to Independence
- Prince Edward Island Civil Service Superannuation Plan
- Providence Centre Pension Plan
- Ryerson Polytechnic University Pension Plan
- St. Joseph’s Health Centre Pension Plan
- St. Michael’s Hospital Pension Plan
- Workplace Safety & Insurance Board Pension Plan.
If you are resigning your current employment and taking a new job that is not part of the OPSEU Pension Plan, and your new employer contributes to any of the plans listed above, you may be able to transfer your OPTrust pension credit to your new employer’s plan. If you want to transfer, please notify OPTrust and your new employer's pension plan immediately as there are specific deadlines for applying. Once you submit an application, OPTrust and your new plan's administrator will handle the paperwork for a reciprocal transfer. To learn about transfers into and out of the OPSEU Pension Plan, please see the fact sheet Transferring Your Credit into/out of the OPSEU Pension Plan.
There are special transfer arrangements between OPTrust and the Ontario Pension Board (administrator of the PSPP).
If you stay with your employer (and there is no break in service):
If you are in a bargaining unit position and transfer to an excluded or management position with your current employer, you are no longer eligible to be a member of the OPSEU Pension Plan. When this happens, your accrued credit is automatically transferred to the Public Service Pension Plan. We will process the paperwork for the transfer after your employer notifies us of the change in your position.
If you move to a new employer who is part of the PSPP (and there is no break in service):
When you terminate your employment but move to a new employer that participates in the PSPP, we will transfer your pension credits when you notify us of the change and if you elect to transfer these credits.